Newspaper article The Morning Bulletin (Rockhampton, Australia)

Mining Not All Beneficial; Research Paper Says Other Sectors Being Squeezed

Newspaper article The Morning Bulletin (Rockhampton, Australia)

Mining Not All Beneficial; Research Paper Says Other Sectors Being Squeezed

Article excerpt

AUSTRALIA'S mining boom has not been universally beneficial for the nation as other sectors of the economy are squeezed by higher labour and materials costs, a new report says.

The Australia Institute has released a paper, Mining the Truth a The Rhetoric and Reality of the Commodities Boom, to highlight some of the negatives as well as the positives of the boom.

The benefits of the mining industry had been a amixed blessinga for the economy overall despite Australia receiving a surge in national income, report authors David Richardson and Richard Denniss said on Thursday.

aStrong world demand for Australia's minerals have driven up the exchange rate which, in turn, has reduced world demand for our manufactured and agricultural goods as well as for our tourism and education export services,a the report said.

Australia's dollar has traded above $US1 for most of 2011 due to demand for the nation's resources, particularly iron ore and coal, and a weak US dollar. …

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