Editorial: Upside for NZ mining decline
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 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, affecting Australia's mining industries.
Queensland has announced plans to hike taxes on coal, leading BHP Billiton to warn that would dent profits and affect future investment.
Even the massive enterprise known as Rio Tinto, which has 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.
So, what successive governments in this country have often voiced, and never achieved - a return to our shores of Kiwi workers - could 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.
It is hard to imagine it is the work that excites men and women to join the staff of mines, as robotic is the best word to describe what many of them do.
What attracts them is the pay.
So those returning to New Zealand are in for relatively slim pickings, I suggest.
-Wairarapa Times Age
