Good News from Down Under: Some Positive Developments for the Australian Mining Industry

If you're a frequent visitor to our blog, then you know that for quite some time, the Australian mining industry has been in a decline. Unsurprisingly, this decline has been damaging to the country's economy, especially for Western Australia. Although there isn't exactly a definite sign of a large-scale turn-around for the Australian mining industry yet, several recent stories from Down Under give us hope that the tide may already be shifting.

First, Jindal Steel has announced its intent to recommence its coal mining operation in New South Wales. Working through one of its subsidiaries, Jindal will soon have the mine functioning again.

Wollongong Coal has signed a two-year contract with Delta SBD, one of the largest contract mining companies in the Australian underground coal mining industry, to oversee and manage the recommencement of operations at Wongawilli (Business Line).

Even more encouraging is the report that the Australian Mines and Metals Association (AMMA) recently predicted a price rebound for coal during 2016. According to AMMA, thermal coal should increase "about $US62 a tonne (from $US52) and metallurgical coal to $US96.50 a tonne (from $US72)." Considering that AMMA's also predicting similar rises in iron ore and crude oil during the coming year, many people are hoping that this will be the year in which the Australian mining industry turns around.

Others, however, are more skeptical. With AMMA also forecasting that energy and other commodity prices will bounce around, the industry could still be in for a bumpy ride.

As always, we look forward to more positive developments for the beleaguered Australian mining industry. It's our hope to see men and women getting back to work and supplying the world with the commodities they need to keep business running.

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