from The Australian: "BIS Shrapnel says 20,000 job losses in the...

from The Australian:

"BIS Shrapnel says 20,000 job losses in the period can be expected in the next three years. Resources industry job losses are tipped to continue to rack up over the next three years in response to the plunge in commodity prices, the slashing of growth capital expenditure and the completion of LNG export projects.

According to forecasting group BIS Shrapnel, a further 20,000 job losses in the period can be expected, coming on top of the 40,000 losses since investment peaked in 2012-13.

Resources investment fell 11 per cent from its peak to $80.3 billion in 2014-15, and is now forecast to decline almost 60 per cent further over the next three years to $33.9bn in 2017-18.

BIS Shrapnel’s Mining in Australia 2015-2030 report, released today, says the knock to investment is due mainly to the completion of LNG export projects, with further (smaller) falls in investment also expected in the coal, iron ore and gold segments.

It is not forecasting a recovery in investment until 2018-19, with a mild recovery to an estimated $42bn in 2019-20 — still only half of last year’s rate of expenditure."

The last line is the worry for how long BLY stays open. About time someone put that clearly in print!!