"What I got from it is that the mining boom is not over. It has slowed and that is it."
I don't know why it always has to be either boom or bust. Even the politicians are talking as though somebody switched off the lights.
The reality as I see it, - from reading the same as everyone else, to talking to people who work for Westrac, (CAT supplier) among others, - is, its ridiculous to say "its over".
Coal is in all sorts of trouble, gas is going well, and iron ore is, well we know about that one. FMG is doing better than ever before and just about better than anyone else in the world. Its not over for them, and so its not over for me.
Movements in the $A have a dramatic effect, both on input and output for mining. Its nonsense to call it "over".
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