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Australia’s resources boom is losing momentum unexpectedly rapidly

Posted on 21 August 2012

Australia’s multibillion-dollar spending boom on resources is losing momentum unexpectedly rapidly, with several projects on hold or cancelled as commodity prices fall and banks become less willing to lend.
From copper mines in tropical Queensland to the big iron-ore pits in the country’s arid west, mining companies are laying off workers and idling equipment until metal prices rise sufficiently………………………………………..Full Article: Source


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VRS - who has written 39000 posts on Opalesque Commodities Briefing.


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