Information on minerals
Cautious optimism in Western Australia
- The bad mood in the global economy will weigh on the mining industry, it is to be heard widely. At least in Western Australia, you can not sign this statement absolutely.
The Chamber of Minerals and Energy Western Australia has done its homework statistics. The authority down on a regular basis, development of the various raw materials which have promoted the region. For the June quarter, the Authority may report a positive outcome.
In many commodities are contrary to the general expectation of a growth trend. This raises not only in the industry, a cautious euphoria. Thus, the gold production in Western Australia increased by 5.5 per cent to 46 tonnes. In iron ore production goes up 8.8 percent to 133 million tonnes upwards. Even more clearly, the growth figures for oil. This signals the chamber, an increase of 59 percent to $ 624 million.
Not only the production data set, and the export is accelerating in many commodities. The export of gold sets in volume by 34 percent, with copper, the increase is 38 percent. Iron ore to an increase in value of 21.5 percent.
Against all predictions, especially China is the driver for export. In volume terms, the export to China lays in the June period by 11 percent. Nearly 70 percent of the iron ore is in the Middle Kingdom. Thus it may be the steel production in the gigantic empire not ordered so bad. The Board believes, therefore, that China will be the global economic recovery driving force. A slowdown in the demand for goods from Australia to see those responsible at present. Such a slowdown is highly unlikely.
Nevertheless, there is not only joy in the industry. While export volumes have increased most significantly, the prices here can not compete, however. So the Erzpreis fell on average by 4.3 percent. Copper and nickel have to cope with a decline, over the quarter, while gold traded little changed.
For the future, the experts come some challenges in the region, much of it revolves around the high costs in the country. The competition, especially in Africa and South America is getting harder. Western Australia can win it only work efficiently and with higher productivity. In addition, the government must ensure that the costs decrease. Where you play on the Australian tax laws that tax the industry. (Goldinv)
Disclaimer: The above text is a contribution from www.goldinvest.de. The content of this article is not controlled by 4investors and is therefore not necessarily the opinion of the editorial 4investors match.
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