Editorial: Halcyon days of mining at an end

So, the mining boom in Australia is destined to become less of a boom and more of a distant rumble, we are now being told.

A news story published this week emanating out of Australia said the lucky country's poster-like image of a nation that can withstand economic downturn is now being threatened because of a mining setback.

China, the world's recognised industrial giant, has "sneezed", bringing about a slump in imports and a subsequent trickle down to shelved investment and a series of other ills, impacting on Aussie's mining industries.

Queensland has announced plans to hike taxes on coal, leading BHP Billiton to warn this would dent profits and affect future investment.

Even the massive enterprise known as Rio Tinto, with huge coal mining interests in the Sunshine State, is making ominous noises about the impact of the tax on further development.

From running a record trade surplus with China, the outlook for Australia now looks less certain, according to experts.

So - where does New Zealand sit with all this?

Well, because the Australian mining industry has been largely responsible for soaking up Kiwi workers who cross the ditch, the impact could dry that up and also cost some of the ex-pats their jobs.

Successive governments have called for Kiwis to head back here. It's ironic that now that could be about to happen, by default.

The sheer scale of Australia's mining operation is mind blowing whether it be coal, iron ore or precious metals.

Huge quarries worked by huge vehicles driven by squadrons of near robotic workers extract vast quantities of material from the earth and yet they say the quantities so far taken out are only the tip of the iceberg.

Clearly, what attracts workers to mining is the pay. So those returning to NZ are in for relatively slim pickings, I suggest.