Top quotes from Monday's sessions

NEW YORK (Reuters) - The following are key quotes from the Reuters Global Mining and Steel Summit on Monday.

FRANK HOLMES, US GLOBAL INVESTORS, CHIEF EXECUTIVE

"It's not just peak oil, it's peak copper discoveries. There's been no major copper discoveries in 30 years. JAY HAMBRO, Aricom TIO.L, CEO

"In my view ... there is an exaggerated Russian discount."

"We are very bullish on the iron ore price. I think it is sustainable at this level and probably will increase 5 or 10 percent a year over the next two years."

"My father always said in response to this question, that everything is for sale, but at the wrong price."

"It is a fact that we are being looked at by various people, and we are in talks with a few people, but what we maintain is that we can do this on our own."

IAN CHRISTMAS, SECRETARY GENERAL OF INTERNATIONAL IRON AND

STEEL INSTITUTE:

"Their (Chinese authorities) strategy seems to be creating a few world-class competitive players in the (steel) industry."

"Look out, look out. Chinese (steel companies) are very entrepreneurial, very innovative ... bright people."

"They (European steel companies) have to run, run very hard.

"They have to be very fit, and also be very clear where they have the best chance of making a unique contribution, even more clear where their advantages are." DEDI ADITYA SUMANAGARA, PT ANEKA TAMBANG Tbk (ANTAM), PRESIDENT

DIRECTOR

"I'm still bullish on the mining sector in the coming years. Even if prices decline in the future, they will not return to previous levels."

LIU YIKANG, DEPUTY SECRETARY-GENERAL, CHINA MINING ASSOCIATION

"To put it baldly, some of these mining companies have hurt the Chinese people's reputation," said Liu, regarding criticism of Chinese projects in Africa and Asia, spotlighting China's safety and environmental record.