Source Mining News - Mining Industry Today, 26/8/2010 www.einnews.com
Australia : Forget the Tax, Mining Investment Powers on......
When the resources industry was threatening a capital strike during the resources rent tax argy-bargy, it was quietly planning a massive surge in investment.
Australian Bureau of Statistics capital expenditure survey for the June quarter shows miners in that fraught period were expecting to invest a massive $54.8 BILLION this financial year, up 29% on their actual 2009-10 capex and a whopping 48% higher than the corresponding expectation survey for that year. What's more, the expectations for capex this year are up 12% on the estimate made in the March quarter.
TRF Price at posting:
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