IGO suspends annual dividends from Tianqi JV amid market downturn
The JV experienced a build in lithium hydroxide inventory at Kwinana over recent months.
Australia’s local governments have been warned the current mining boom is not big enough to carry the national economy. The Australian Local Government Association says its latest State of the Regions report indicates there is a risk that business confidence might evaporate in regions that depend on non-mining industries. The report, launched at the association’s general assembly in Canberra on Sunday, acknowledges that mining makes up only about 20 per cent of the economy.
In Queensland, times were prosperous in the Bowen Basin and in towns and cities that supported the construction boom, Dr Brain [co-author of the report] said. “By contrast, far north Queensland is doing it tough because recession overseas and the high Australian dollar have hit the tourist trade.”
