News From Aussie Resources Sector
I was talking with a Bangalore-educated process engineer at BP a few years back and he said that India's economic growth will surpass even that of China. I was skeptical at the time, as I remember it. He was investing in India's new oil refinery and was excited about the refinery growth. Now, we see talks about Australia and India mineral collaboration happening. I know they want our Australian uranium oxide: U3O8 for supposedly energy-generation reasons. Next, it will be iron ore: iron oxide from the Pilbara in Western Australia. But we've got millions of tons of more goodies for India: alumina, copper, nickel, manganese, gold, oil and gas. The future of the Australian mining industry and its boom look pretty sound to me. India is going to be a massive customer of Australian mineral suppliers. There is little doubt in my mind. China may be slowing…it's just a temporary 'correction' after a bubble of hyperactivity. Like a growing child needing a midday rest. Wait and see.
"KOLKATA (miningweekly.com) – The second round of negotiations on the India-Australia Comprehensive Economic Partnership Agreement (CEPA) would get under way next month, and would focus on Australia's mineral resource rent tax and its carbon tax, …"
India now has a population of over one billion persons and the rate of industrial and economic growth is astonishing. It could soon rival China as the powerhouse of the global economy. For these reasons, Australia is being lobbied and approached as a long term supplier of minerals, such as iron ore, uranium oxide, copper, nickel, manganese, bauxite or alumina and gold. Mining in Australia has a huge future, thanks to India's strong desire for collaboration over minerals, as well as China's continuance.
Words can't even begin to show you as much as this video can, of the size and extent of Australian mining operations… Here an iron ore mine is reopened, due to the high grade of the iron ore that was buried – plant, machinery and all. It just shows you the enormous potential profitability of open cast mining in the Pilbara Region of Western Australia. The World wants what Australia has got.
Thanks for visiting this brief view into the massive, Australian mining industry. We at Australia Search dot net believe that the mining boom will continue, due to concerted marketing efforts, current talks with India, internal demand in the fast developing Asian nations and the inevitable, economic and exporting bounce back of Australia's major trading partner and customer for minerals: China.
Written by staff writer, Geoff P. Dodd