Is the mining boom over? No! BHP’s panic decision not to proceed with the expansion of their mine at Olympic Dam reflects bad management of what was once Australia’s greatest company. Is there a softening of world demand for resources? Yes! Mainly caused by the recession in Europe, but the resources market was overheated and needed to calm down. Will the softening continue? Yes!
What harm will this do to the Australian economy? Continue reading “Is the mining boom over?”