Australia’s biggest miners hit by global downturn

Posted November 09, 2018 14:34:17The Australian mining industry has suffered a deep economic downturn with the collapse of gold and other commodity prices, according to figures released today by the National Australia Bank.

Key points:The ANZ survey found that mining firms are suffering a deep downturn, with miners hit hardestThe downturn is being felt in the iron ore industryThe ANAIB found the downturn has affected mining firms like BHP, Rio Tinto and Rio TunesGold prices have fallen by almost 60 per cent since 2016, with BHP and Rio being the most affected of the big three mining companies, the ANAB said.

The ANB said the mining downturn has impacted mining firms including BHP with a loss of $14.6 billion and Rio with a $7.9 billion loss.

“Despite a sharp decline in mining activity in 2016, there is an indication that the downturn in the mining industry is being reflected in the Australian economy,” the ANB reported.

“The outlook for the Australian mining sector remains broadly stable, but it is likely to be slower in the coming quarters due to the impacts of the mining decline.”

We expect mining firms to suffer a deep recession this year as a result of the current downturn and the resulting impact on the economy.

“The ANI survey found the industry’s losses are driven by the decline in the price of gold.

Gold prices fell by almost $600 a troy ounce in the past year, while Rio Tines lost $1.2 billion, Rio Minerals lost $3.9 million and Rio Minerations was down $2.6 million.

The latest ANAIAB survey also found that Australian mining companies are the most vulnerable to the downturn.”

For mining companies in particular, the impact of the downturn on their profitability and growth outlook is expected to be substantial,” the report found.”

More than half of mining companies surveyed reported significant or moderate losses in operating profit in 2016.

“The report said the downturn was being felt more acutely by the iron and coal mining industry than the oil and gas and gas mining industries.

Topics:mining,business-economics-and-finance,business,,mining-industry,industry-and/or-farming,australia,auburn-4700,brisbane-4000,nsw,vic,brisbane-act-as,vicnews,britain,aurn-7000,qld,fijiContact Adam LewisMore stories from Queensland

Sponsor Partner

Best Online Casino » Play Online Blackjack, Free Slots, Roulette : Boe Casino.You can play the favorite 21 Casino,1xBet,7Bit Casino and Trada Casino for online casino game here, win real money! When you start playing with boecasino today, online casino games get trading and offers. Visit our website for more information and how to get different cash awards through our online casino platform.우리카지노 - 【바카라사이트】카지노사이트인포,메리트카지노,샌즈카지노.바카라사이트인포는,2020년 최고의 우리카지노만추천합니다.카지노 바카라 007카지노,솔카지노,퍼스트카지노,코인카지노등 안전놀이터 먹튀없이 즐길수 있는카지노사이트인포에서 가입구폰 오링쿠폰 다양이벤트 진행.카지노사이트 - NO.1 바카라 사이트 - [ 신규가입쿠폰 ] - 라이더카지노.우리카지노에서 안전 카지노사이트를 추천드립니다. 최고의 서비스와 함께 안전한 환경에서 게임을 즐기세요.메리트 카지노 더킹카지노 샌즈카지노 예스 카지노 코인카지노 퍼스트카지노 007카지노 파라오카지노등 온라인카지노의 부동의1위 우리계열카지노를 추천해드립니다.2021 베스트 바카라사이트 | 우리카지노계열 - 쿠쿠카지노.2021 년 국내 최고 온라인 카지노사이트.100% 검증된 카지노사이트들만 추천하여 드립니다.온라인카지노,메리트카지노(더킹카지노),파라오카지노,퍼스트카지노,코인카지노,바카라,포커,블랙잭,슬롯머신 등 설명서.우리카지노 | TOP 카지노사이트 |[신규가입쿠폰] 바카라사이트 - 럭키카지노.바카라사이트,카지노사이트,우리카지노에서는 신규쿠폰,활동쿠폰,가입머니,꽁머니를홍보 일환으로 지급해드리고 있습니다. 믿을 수 있는 사이트만 소개하고 있어 온라인 카지노 바카라 게임을 즐기실 수 있습니다.