Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
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The talk of the recent AIMEX show in Sydney, attended by International Mining, was a report looking at the future of the Aussie mining industry that highlights just how much potential for growth remains, but also warns against complacency. The landmark report by ANZ Bank and economic consultants Port Jackson Partners, released exclusively to The Australian, and reported on in the paper on September 9, estimates that A$2 trillion needs to be invested in the Australian economy for the nation to capitalise on the mining boom caused by the developing world’s march towards urban industrialisation. The report said that Australia “stands poised to capitalise on an economic transformation unparalleled in the nation’s history, with a resources and commodities boom capable of generating A$480 billion of exports in the next 20 years and creating 750,000 jobs.” (more…)
