Arab Today, arab today death of australian mining boom exaggerated
Last Updated : GMT 10:35:06
Arab Today, arab today
Arab Today, arab today

Death of Australian mining boom exaggerated

Arab Today, arab today

Arab Today, arab today Death of Australian mining boom exaggerated

Sydney - AFP

Australian Prime Minister Julia Gillard Tuesday denied claims that the mining boom was over, saying its benefits would last decades even as a key forecaster warned more projects may be shelved. Resources Minister Martin Ferguson last month declared \"the resources boom is over\", prompting a flurry of speculation that falling commodity prices could see the lucrative industry wind down. Gillard\'s declaration came on the day that iron ore miner giant Fortescue announced it would defer planned developments, while BHP Billiton last month shelved its multi-billion dollar expansion of the Olympic Dam copper and uranium mine. But the prime minister said the resources boom, which helped Australia to avoid recession during the global financial crisis, had three distinct phases and only the first -- the commodity prices boom -- was \"now passing\". \"Reports of the mining boom\'s death have been exaggerated,\" she told a mining conference in Perth. Gillard said the investment boom was still to reach its peak -- with investment set to hit Aus$119 billion (US$122 billion) by the end of this financial year. This would be followed by the production boom which would come to fruition in the decades ahead, she added. Key market China was still only about halfway through its process of urbanisation and industrialisation and India was yet to undertake the most dramatic stage of its rise, she said. Australian mining projects have faced headwinds from depressed conditions in Europe and the United States, softening growth in China and increased competition from other producers as well as falling commodity prices. Chief economist at Australia\'s Bureau of Resources and Energy Economics, Quentin Grafton, said Tuesday that more mining developments could be shelved given the sharp fall in commodity prices. \"If prices continue to decline -- and they declined substantially in the last six to eight weeks -- then that clearly will have a negative outlook in terms of what companies are prepared to invest over the long term in projects,\" he told Dow Jones Newswires. The price of iron ore, a crucial ingredient in steelmaking, has fallen dramatically in the past two months as the Chinese economy slows, while the price of coal, another major Australian export, has also dropped sharply.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today death of australian mining boom exaggerated Arab Today, arab today death of australian mining boom exaggerated

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today death of australian mining boom exaggerated Arab Today, arab today death of australian mining boom exaggerated

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today Saudi clerics use Twitter, textbooks

GMT 10:13 2017 Tuesday ,26 September

Saudi clerics use Twitter, textbooks
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Mai Kassab happy for participating in new film

GMT 09:33 2017 Friday ,22 September

Mai Kassab happy for participating in new film
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 16:08 2017 Monday ,25 September

'World's heaviest woman' dies

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday