Investors Rush to Join Australia Mining Boom

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Australia is on everyone's map, it's one big free-for-all," said Eagle Mining analyst Keith Goode, who scours the outback by four-wheel drive or in light planes assessing prospects.

The Australian outback's abundance of iron ore, nickel and other minerals is attracting a swelling number of overseas investors who are acting as if the raw materials boom fuelled by China will go on for years.

As more mines open up across the mineral-rich deserts, Japanese firms who have been investing in Australian mining for decades are vying with Russians, Ukrainians, Chinese and others for partnerships with local prospectors.

"Australia is on everyone's map, it's one big free-for-all," said Eagle Mining analyst Keith Goode, who scours the outback by four-wheel drive or in light planes assessing prospects.

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