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MINER'S RIGHT
Rich pickings
If Carl Icahn was the only rich American placing a US$1 billion bet on a recovery in resources he would be a novelty. He’s not. There’s an even richer American, Warren Buffett, who has decided it’s time to play the raw materials recovery game.
In Buffett’s case the bet is a handy $4.5 billion on oil via Houston-based refiner and pipeline operator, Phillips 66, an investment which easily outstrips Icahn’s punt on copper made by the acquisition...
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