Q & A

Are there some specific commodities for which you see a bright future and would like to invest in?

As mentioned, copper is one commodity that we are bullish on. We also expect to invest significantly in oil and gas. The recent fall in the oil prices may, however, prompt us to think about the most efficient way to do that, and the timing. Over the longer term we also plan to invest in fertilizers, particularly potash-based ones. Part of the reason why we are bullish on fertilizers is that we do see a phase where energy intensity will fall. Energy efficiency, on the other hand, is growing and the biggest driver of demand that we can capitalize on will be in the growth of high-quality food with a minimal increase in arable land.

How do you plan to reduce overall costs?