Australia's mining boom will continue to roll on but decline slightly in coming years as commodity prices fall due to an increase in supply, the Federal Government says.
There's no cause for concern for miners for the time being, with businesses expected to invest a record A$120 billion ($154 billion)
in the resources sector in 2012-13, the Government's Budget papers said yesterday.
If there is a decline it will, ironically, be related to the global mining boom leading to an increase in supply which could lower commodity prices.
Australia's terms of trade are at record high levels, sustained by high commodity prices.
The Government believes it has hit a peak with the terms of trade expected to decline 5.75 per cent in 2012-13 and 3.25 per cent the following year, albeit while still maintaining 140-year highs.
