Industrial Info Looks at Future Market Trends in Australia’s Metals & Minerals Industry
IIR’s Siddesh Prabhu took the stage to present the Australian Metals & Minerals Market Outlook at the Queensland Mining and Engineering Exhibition on Monday, July 25, in Mackay. With the mining sector in heavy decline over the past few years, the question everyone had for Siddesh is: When will they see an upward turn?
Australian Broadcasting Corporation’s Rural covered Siddesh’s presentation, in which he gave a positive outlook on the nation’s future in mining and minerals: “I can confidently say that we have seen the bottom.”
Prabhu expects the industry to have a slow and steady recovery over the next five to six years. He said that investments from Southeast Asia would play a significant role in the sector’s improvement, with 110 to 120 gigawatts of power-station projects possibly coming online in the next 10 years.