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




Join the Community.

Get your local news, your way.

Stay Connected

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

Workmates credited with saving man from certain death

THANK YOU: Bruce O'Grady in the centre with (clockwise from left) Trent Court, Chris Aiken, Dale Ward and Scott Blackwell.

BRUCE O’Grady does not remember the morning of January 25, 2016.

Multi-million dollar upgrade for Redbank Plains Rd

Cr Sheila Ireland, Cr Kerry Silver and Cr Cheryl Bromage at the new intersection upgrade of Redbank Plains Road and Cedar Rd.

Cheryl Bromage delivers big infrastructure project for city

Former Cowboy enjoys free reign at Jets

IN CONTROL: Mark Bishop has the Jets on top in the BRL.

Ipswich Jets host Logan Brothers in BRL

Latest deals and offers

Man thanks colleagues for saving his life after forklift incident

Bruce O'Grady returned to his Wulkuraka workplace on Thursday to thank his workmates that saved his life after a workplace accident in January. (clockwise from left) Trent Court, Chris Aiken, Dale Ward and Scott Blackwell.

Ipswich paramedics have praised the workplace health and safety focus of a local...

RACQ releases SE Qld's worst choke points

Paul Turner, RACQ

Paul Turner from RACQ talks about our worst roads at peak time.

British family bashed in Thailand

Family beaten and kicked unconscious by gang in Thailand.

Family beaten and kicked unconscious by gang in Thailand.

Demand for acreage lots pushes up property prices

Property values in Cooroy have increased 25%

Property values jump in Cooroy and Peachester.

How a sacked real estate agent made $725k in four months

Agent is now under investigation by the industry watchdog

RBA warns of future apartment oversupply

Toowoomba: Crest Apartments and Burke & Wills, Ruthven Street ( view from Neil Street) Photo Bev Lacey / The Chronicle

RBA says oversupply of apartments poses risk to household finances