This morning we heard that while the Western Australian economy is still feeling the effects of a decline in the level of mining investment, there are some positive signs. The level of mining investment has further to fall as some large liquefied natural gas projects are completed. But elsewhere in the resources sector things are looking brighter.
Sustaining capital expenditure, particularly in the iron ore sector, is picking up with positive spillover effects. Higher prices for a number of minerals have also led to increased exploration activity, including for gold and lithium, and an expansion of some existing mines is taking place.