Australian mining: : Down but not under

• Autores: Laura Syrett
• Localización: Industrial Minerals, ISSN 0019-8544, Nº. 577, 2015 (Ejemplar dedicado a: Noviembre)
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • Like many seasoned Australian explorers, [Ian Chalmers] is an indomitable optimist. "I think the mining industry is in good shape," he said. "We've come out of a construction boom, which is what caught everyone's attention (...) but a lot of companies are working their way through it - we haven't seen many company failures." The state was stripped of its AAA+ credit status by ratings agency Standard and Poor's (S&P) in 2013 and in April this year, it looked like its AA+ status could be under threat. Although WA has since pulled itself off S&P's "negative watch" list, in mid-October, Moody's Investor Services issued a report warning that the state's fiscal performance will be "challenged" by low commodity prices.

    Moody's did however point out that "rising exports of iron ore as new production comes on line will partially offset this weakness over the medium term", adding that WA's budgetary flexibility on tax and spending will support its plan to move into a surplus by FY2018/19. "WA will need political resolve to hit its fiscal targets. The state's ability to reduce spending and manage a more volatile revenue base will be critical to achieving its fiscal targets," it said.