RBA releases mining industry research paper
The Reserve Bank of Australia (RBA) has released a report into the state of the mining industry in Australia, detailing the ‘remarkable turnaround' of the sector during the 2000s.
The paper, titled The Mining Industry: From Bust to Boom, credits the remarkable growth of the sector to the emerging economies in Asia, which ‘drove a surge in demand for commodities, particularly those used in steel and energy generation.’
However, the report echoes the concerns of the Federal Government in detailing the formation of a two speed economy, with the boom driving the exchange rate and, in turn, damaging the bottom line of trade-exposed industries outside the mining sector.
The discussion paper can be found here