Australia's Mining Sector Grows at Staggering 12% a Year

Source: IB Times, Vittorio Hernandez (5/16/12)

"Australia's mining sector continues to gallop, while the rest of the economy trails behind."

Australia's mining sector continues to gallop, while the rest of the economy trails behind.

Proof of the existence of the three-speed economy is the staggering 12% growth rate of the mining industry versus 1% for the rest. More proof of this was presented by Reserve Bank of Australia (RBA) Deputy Governor Philip Lowe, who said mining and related industries comprise 16 to 17% of the Aussie economy and account for 8% of all jobs.

Mr. Lowe said Tuesday at a Davos Connection forum in Melbourne that according to the RBA analysis mining investments impact construction activity in several industries such as business services, manufacturing, transport and wholesale trading.

Thus, demand for more mining sector works would not be limited to frontline employees who are involved in the extraction and processing of natural resources, but would include those engaged in accounting, construction, legal, project management and human resources tasks.

"It would not be surprising if, over the next few years, growth in mining-related employment, broadly defined, was as high as one-half of the total growth in the Australian workforce," The Sydney Morning Herald quoted Mr. Lowe. . .View Full Article

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Source: Streetwise Reports (01/29/2021)

Magna Gold Corp.'s CEO Arturo Bonillas issued a letter to shareholders outlining the firm's business and financial accomplishments in 2020 and its strategy and outlook for 2021.

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Source: Streetwise Reports (01/27/2021)

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Source: The Critical Investor for Streetwise Reports (01/27/2021)

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Source: Streetwise Reports (01/27/2021)

The StreetSmart Live! Broadcast on Jan. 26, 2021, focused on metals and why now is a good time for investors to be looking at them and the mining space. John Newell, independent analyst and portfolio manager, and John Feneck, mining sector expert and president of Feneck Consulting, addressed the status of the current metals market. CEOs of the three metals-focused companies comprising the Metallic Group of Companies—Group Ten Metals, Metallic Minerals and Granite Creek Copper—discussed their projects.

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Source: Michael Ballanger for Streetwise Reports (01/26/2021)

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Source: Streetwise Reports (01/26/2021)

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