Australia’s resources minister, Martin Ferguson, has declared the nation’s mining boom “over” after BHP Billiton, the world’s biggest miner, delayed plans to build the largest open-pit mine in the world as the global economy slows.
“You’ve got to understand, the resources boom is over. We’ve done well – A$270bn (£179bn) in investment – the envy of the world,” Mr Ferguson told ABC radio.
“It has got tougher in the last six to 12 months. Look at Europe, the state of the European and global economy. Think about the difficulties in China. The commodity price boom is over and anyone with half a brain knows that.”
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