Mining boom not even half over
AUSTRALIA is not even halfway through its mining investment pipeline, Trade Minister Craig Emerson says.
Resources Minister Martin Ferguson said earlier this week the mining boom was ''over'' in reference to commodity prices after BHP Billiton announced it would shelve its Olympic Dam expansion in South Australia.
Dr Emerson said investment in Australia's mining industry had been at 40-year highs and had grown at 20 per cent for the last 12 months.
''The truth of the matter though is we're not even halfway through the mining investment boom, let alone the production boom,'' he told ABC Television on Sunday. ''We've got a lot of projects still to be formally commenced but the investment is pouring into them.''
Prices had come off ''a bit'' but there was a strong investment pipeline still ahead, Dr Emerson said.
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