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BIS Shrapnel Predicts Mining Decline

According to economic forecaster BIS Shrapnel, mining and heavy industry construction, which accounts for one third of Australia’s A$25 billion ($21 billion) building sector, is expected to drop 3 percent in the 12 months ending June 30, 2011. This is due to the completion of some major export projects.

It is the first time in the last seven years that the mining industry will see a drop in a fiscal year. Adrian Hart, senior manager for BIS Shrapnel’s infrastructure and mining unit feels that the completion of iron ore, coal projects, and alumina refineries combined with lackluster performance of other mineral commencements through 2009 will be responsible for this fall.

However two surveys taken in Western Australia are confused about blaming the new mining tax for the expected 3% dip in the mining industry. The Sensis survey shows that businesses were still positive about the future overall, this fell 40 per cent from the last such poll in February. The survey was conducted after the new tax was announced.

The survey questioned 225 businesses in the state, with 195 of those in Perth. Survey author Christena Singh said that WA businesses were experiencing the weakest sales, profitability and capital expenditure in the nation.

Joel Scanlon

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, content production, design, animation, database and networking, software, and editing. Joel has been with AZoNetwork since its inception in 2000.

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