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Six months ago, at the time of our full year results for the 2019 financial year, an air of prudent caution permeated commodity markets. On balance, events since that time h ave justified that caution.. The result has been a mixedpriceperformance by our key commodities. 1 Demand for oil, metallurgicalcoaland copper was weaker than expected in the 2019 calendar year, while demand for iron ...
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The reported ironoreandcoalreserves contained in this annual report do not exceed the quantities that the Company estimates could be extracted economically if futurepriceswere at similar levels to the average contractedpricefor the three years ended December 31, 2018.
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