Re your post which included; "... I think a much more relevant indicator for us right now is the decision by BHP late last week to freeze all project approvals for six months. ..."
Well of course you do! Just happens that suits the negative, scaremongering campaign being waged by Tony Abbott.
Never worry about the facts though - what's underway hasn't being terminated by BHP at all.
Then cast your eye over what else is happening & even a blind miner can see that the pressures on engineering companies to service such projects is already being pushed to the limits.
Perhaps also ponder for a moment just why there are calls for the Feds to import more workers from overseas.
The reality is that booming growth in our mining sector needs to be kept in check, otherwise costs balloon & as soon as supply satiates demand comes the BUST. Then there's the impact of a high $Aud on other sectors of the economy driven by the mining boom - not that I'm suggesting BHP cares about that.
