Australia’s Mining and Energy Projects Reach Record Value

18 November 2009 (Last Updated November 18th, 2009 18:30)

According to reports, the value of Australia’s mining and energy projects currently under development reached a record A$113bn ($105bn) in October. The Australian Bureau of Agricultural and Resource Economics has announced that the value of the nation’s advanced minerals and energy pro

According to reports, the value of Australia’s mining and energy projects currently under development reached a record A$113bn ($105bn) in October.

The Australian Bureau of Agricultural and Resource Economics has announced that the value of the nation’s advanced minerals and energy projects has risen by 40% since April of this year.

Experts believe the industry has been boosted by the approval of the A$43bn Gorgan LNG project, which is located off north-western Australia.

Energy projects account for about 72% of all the country's major future projects, while Western Australian states account for roughly 83% of the capital expenditure on advanced projects.