This week, the big mining companies have been saying what ANDEV has been saying for at least 18 months: escalating costs in the resources industry in Australia are discouraging investment.
BHP’s Jac Nasser described Australia as “one of the higher-cost countries in the world” for mining. He warned that if input costs in the resources sector remain high and the regulatory environment uncertain, BHP would move investment offshore.
Earlier, Rio Tinto CEO Tom Albanese foreshadowed a review of several projects as a result of the 50 per cent increase in capital costs in the coal mining sector over the last four years.
Friday’s decision to reduce the expansion of the Abbot Point coal terminal near Bowen in Queensland from six new wharves to two, is further evidence of the detrimental effect of delays on projects. The regulatory process has dragged on for 17 months.
Finally this week, a class action has been brought by beef producers to seek compensation from the government over the live export ban. We’ll keep you updated.
If you’d like more information on our vision for a new North please contact John Shipp, at email@example.com or on 0429 706 661.
Also visit our website: www.andev-project.org/
As always, please feel free to share your vision for a new North by emailing me at firstname.lastname@example.org.
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