When the "experts "talk about the end of the mining boom their talking about all sectors of the mining industry eg established miners,new mines,mining services companies then you have the flow on effects to wages ,mining employment and other sectors of the economy.
Lets take the prime example of an established miner BHP,cost for them to produce IO is approx $60 per ton,during the boom they sell it for 190 per ton,at present they sell it for 124 per ton but in 2014 supply will exceed demand for the first time in a decade so what happens to BHP's iron ore sell price in 2014.BHP also sells nickel ,copper,gold etc all trending down just like their profits will.It doesn't mean they will go broke its just business as usual like property will be.
As you go down the food chain to the higher cost producers and the lower quality producers over all commodities some will go broke same with mining services and this was the sector supporting our economy imo,and why rudd is suggesting we need to make the transition from relying on the mining sector to manufacturing and agriculture,it just appears he doesn't understand whats required to make the transition or the unions wont let him,anyway will be interesting if he gets back in. And imo above definitely relates to property prices.
