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Australia mining slowdown hitting economy never down on luck

Posted on 29 August 2012

 Adam BoytonAustralia, known as the lucky country for its resource abundance and temperate climate, is about to find out how long its latest winning streak will last. BHP Billiton Ltd. (BHP), the world’s biggest miner, last week mothballed projects valued at more than A$50 billion ($52 billion) by Credit Suisse Group AG and Deutsche Bank AG.
At the same time, Australia’s resources minister called the end of a bull run in commodity prices, and the central bank chief predicted the cresting of the investment wave within two years………………………………………..Full Article: Source


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