The Australian, with a pessimistic article, sees an abundance of signs that the investment pipeline will run dry (click the first link to avoid the paywall).
Is the mining boom dead? Has BHP rung the bell on the boom? Yes, can be the only answer.
A critical news item to watch out for on Aussie in the coming months will be further project delays/cancellations.
Given the factors behind the BHP decision — the slump in prices, rising capital costs, the strong dollar and the slowdown in China — more deferrals of yet-to-be committed projects are on the cards.
They also note that what is left in the investment is now highly dependent on natural gas. Competition from North America could derail that while a rebound in gas prices could reverse the tide.
