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Australia: One third of miners to disappear

Posted on 22 December 2008

From News.com.au: More than a third of Australia’s 800-odd publicly-listed mining and exploration companies may not survive the crash in commodities markets.

This is the dire warning from a big four accounting firm. The impact of the global financial crisis has hit hard in the nation’s vital resources sector, with a long list of mines shut indefinitely, expansions put on hold and approximately 5000 workers laid off in the past few months alone….. Full Article: Source


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VRS - who has written 39856 posts on Opalesque Commodities Briefing.


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