MINING SECTOR ON THE MEND WITH STRONG GROWTH POISED FOR 2018 AND BEYOND

ACTIVITY in Australia's mining sector is set to accelerate in 2018 according to a recent report from BIS Oxford Economics.

The industry is poised to grow through 2018 and beyond, arguing well for exports and the broader Australian economy, with mining exploration, production, and maintenance are all expected to lift significantly through 2018.

Over the last year, mining production only grew by 2.5 per cent. BIS Oxford Economics anticipates the sector to grow by 5.5 per cent in 2017/18, with even stronger growth over the remainder of the decade.

The Mining in Australia 2017-2032 report bodes well for Australia, considering that the Adani Carmichael coal project was not taken into account, as BIS Oxford Economics says it is unlikely to go ahead.

Rubhen Jeya, BIS Oxford Economics Economist and report author says the massive investment into the sector will drive future growth.

"The enormous investment boom is now translating into production, particularly within oil and gas, where Australia is expected to become the leading LNG exporter by 2022," says Jeya.

Not only will mining production see a massive spurt of growth, but it will grow roughly double the pace of the national economy over the next five years, according to BIS. Read more

David Simmons - Business News Australia - 11 Dec 2017