Not quite deja vu all over again
That is a level not seen since the end of the original investment boom triggered by China’s compounding embrace of seaborne raw materials markets from 2005.
When that once-in-a-century expansion in mining sector capacity began local miners directly employed an estimated 113,000 people. By the time the boom exhausted itself in 2012, 274,000 Australians were employed by miners. As AMMA noted, through that hectic seven-year stretch, workforce demand in the mining business grew by 20 per cent annually.The resulting cost inflation – particularly in the heavy equipment, engineering and contract construction sectors – […]
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