Australia’s mining industry is on the cusp of change. While investment in new mines is forecast to drop 40% over the next four years, mining operations are gearing-up for a ‘production boom’ – an upswing that is set to place increasing pressure on local companies to keep costs down, while increasing their operational efficiencies.
The mining industry is expected to grow strongly over the coming years. Following a 9.4% rise to $164 billion during the 2013-14 fiscal year, mining production will grow by a further 33% to $219 billion by 2018-19, analysts claim.