Australia’s total purchase of mining industry soared with a third prior to now six months to the record $231.8 billion, using the Bureau of Resources as well as Economics latest Mining Industry Major Projects – October 2011 report.
The research, issued today, features a record 102 projects with an advanced stage of development, including 40 minerals projects, 37 energy projects, 21 infrastructure projects and four mineral processing projects. belt conveyor specification
“Although uncertainty surrounds the outlook for future commodity prices, exploration expenditure is probably going to remain high, provided resource prices remain high,” the report says.
Lead author and bureau resources manager Alan Copeland said 93 percent of the projects involved oil, gas, iron ore and coal and totalled $6.2 billion – just shy of the highest amount on record and double the amount average of history 30 years. Iron ore processing
Canberra Times reports that this figures come just before Treasurer Wayne Swan issues the mid-year Budget update, that’ll show the turmoil in Europe helps strip a further $20 billion from revenue within the next 4 years. He is most likely to reveal further cuts to spending.
Western Australia is the reason for about 64 percent of expenditure on advanced projects with final investment decisions announced for your Wheatstone and Prelude LNG projects in the past six months. Crusher for mining equipment
Now there are a record 102 minerals and projects that have reached your final investment decision.