1 The global economic environment looks promising with the US showing good growth, followed by Japan and Europe. China has been an engine of growth and has propelled the commodity market. The threat of China cooling down is bringing in a note of caution in scenario planning.
For us, the turn in the US economy and prospects of growth in Europe is a good sign. We have a liquid balance sheet with adequate cash resources and, as such, we have no plans for raising any capital. Moreover, we have a flexible cost structure that helps us to better weather rapid market changes. However, rising interest rates could lower growth prospects in our market.
