South Australian Stocks Rising in Mine Boom
Source: theaustraliannews.com (5/1/08)
South Australia is facing a continuous mining boom, and deserves to be rerated like a successful exploration company on the stock market, according to a primary industries expert.
The executive director of Primary Industries and Resources SA, Paul Heithersay, said there was enough evidence of successful exploration in the state, coupled with a strong Chinese demand for resources, to reject concerns the mining boom would inevitably lead to a bust.
"We can't see a bust because the commodities we have are the ones that China needs -- copper, zinc, iron ore, zircon," he said. "Australia is one of the main producers of these and SA now has a big chunk of that sector. And uranium of course."
He compared the state's economy to a company that had announced the discovery of a new mineral resource
…Mining now contributes 24 per cent of SA's export income, and Dr Heithersay said this figure was expected to rise.