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


Local Real Estate

finda logo
Featured Real Estate
KARANA CUTIE!! $289,000 PLUS...
House 3 1 1
Modern Timber 4 Bedroom... Modern Timber Home 4 Bdrm Great Condition Solid construction Good iron roof ...
Hidden Gem Price Reduction...
House 3 1 1
3,093 M2* WAREHOUSES AND... Expressions of...
Commercial *OPEN TO EXPRESSIONS OF INTEREST TO PURCHASE OR LEASE * LARGE OPEN ...

Join the Community.

Get your local news, your way.

Stay Connected

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


Marketplace

Special Offers & Promotions

Compare & Save