Spending by Miners is Up Down Under
Statistics reported in Australia shows the mining industry is alive and well. The demand for commodities coming out of China and other high growth countries continues to drive spending and investment - Click here for story.
Plant and equipment spending in the mining sector was up over 6% in the last quarter and key players such as Rio Tinto are still looking at a growing pipeline. With growth in China clicking along at about 10% annually, it is difficult to predict when this boom will level off. Australia’s GNP is happily benefiting this year and may be up 4% by year end.
