Business

Record amount of money being spent in mining industry

A major report from the Bureau of Resources and Energy Economics found there was $268.4 billion being spent on significant developments in the resources industry in Australia.
A major report from the Bureau of Resources and Energy Economics found there was $268.4 billion being spent on significant developments in the resources industry in Australia. Amy Coopes

FORGET the gloom, the amount of cash being pumped into Australia's mining industry is still breaking records.

A major report released from the Bureau of Resources and Energy Economics found there was $268.4 billion being spent on significant developments.

This included 87 projects that were either in construction or about to start.

Of these, 51 were mines, 18 were gas and petrol ventures and 18 were considered infrastructure.

Within that headline figure are 11 "mega projects" worth more than $5 billion each and including liquefied natural gas developments near Gladstone and others in Western Australia.

In total, these super developments account for about 76% of that overarching figure.

The report found that in the past six months, 10 projects worth $13.2 billion were given the green light after a final investment decision.

The largest of these was for the second LNG train at the Australia Pacific LNG plant in Gladstone.

Topics:  bureau of resources and energy economics, mining, profits




Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Anthropologist to help police at Sharron Phillips dig

Police continue the search for the remains of Sharron Phillips at Carole Park this morning.

Police continue the search for the remains at Carole Park

Work starts on $85m makeover for former school site

COMMUNITY HUB: An impression of what the residential and shopping complex at Silkstone will look like.

CONSTRUCTION has started on an $85 million development at Silkstone.

Man faces court over attempted stabbing of parents

63-year-old man and 67-year-old woman taken to hospital

Latest deals and offers

Beyonce is better than Beethoven according to your dog

Sony research shows that dogs prefer Top 40 over classical.

Research commissioned by Sony shows that dogs like Top 40 more than classical.

Police continue dig at Carole Park site

Police search for remains of Sharron Phillips in Cobalt St, Carole Park. Sharron Phillips went missing in 1986.

Police continue the search for the remains of Sharron Phillips at Carole Park this...

Kevin Walters has done his homework on Moylan

GOLD COAST, AUSTRALIA - MAY 29:  Coach Kevin Walters during a Queensland Maroons State of Origin training session on May 29, 2016 in Gold Coast, Australia.  (Photo by Bradley Kanaris/Getty Images)

Qld Couch Kevin Walters is aware of NSW fullback.

The reason families are moving to Ipswich

WORKS PROGRESS: Construction of the District Park, which will include a Splash’n’Play Water Park and adventure playground, is well under way.

Better roads and more jobs making Ipswich attractive prospect

Own Sunshine Coast property? You’re about to make money

UP AND UP: Property owners are likely to win from rent and price increases but tenants and first home buyers might not be so happy. Photo: Brett Wortman / Sunshine Coast Daily

Good new for property owners, not so good for buyers and tenants.