Australia: a resources boom without end

摘要

Australia is awash with mineral and energy developments. According to the latest report from the federal government's commodity researcher, at the end of April there were 94 projects at an advanced stage of development, with a record capital expenditure of A$173.5B. The Australian Bureau of Agricultural and Resources Economics and Sciences (ABARES) reported this was a 31% increase in just six months - and there have been sev-eral more multi-billion dollar projects approved since then. In 2010-11, exploration expenditure in Australia's minerals and energy sector was estimated to be A$5.9B, broadly similar to expenditure in 2009-10 and the third highest on record. New capital expenditure in the mining industry was estimated to be A$55.5B in 2010-11, 53% higher than in 2009-10. Australian Bureau of Statistics survey data indicate capital expenditure in the mining sector in 2011-12 may be around AS73.7B.