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Australia set for new mining boom to meet rising global demand
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A miner holds a lump of iron ore at a mine in the Pilbara region of Western Australia.
PHOTO: REUTERS
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SYDNEY - Australia is on the cusp of a new mining boom as record levels of exploration and investment fuel a wave of new projects.
Despite the pandemic leading to a lack of skilled workers and equipment due to border closures and supply chain breakdowns, this has not stopped massive growth for the resources sector. In the three months to December, mining firms spent a record A$974 million (S$940 million) on exploration and raised a record A$3.2 billion in equity, according to analysis by the research firm Austex Resource Opportunities.
