‘Australia’s multibillion-dollar spending boom on resources is losing momentum unexpectedly rapidly, with several projects on hold or cancelled as commodity prices fall and banks become less willing to lend.’
‘From copper mines in tropical Queensland state to the big iron-ore pits in the country’s arid west, mining companies are laying off workers and idling equipment until metal prices rise sufficiently’…. More …WSJ
The RBA expects resource investment to top out by the end of June 2014.
