Mining Industry Boosts Australian Dollar

Eco Friendly, Eco Friendly Liquid Products, Environmental Cleaning ProductsIn a world where every nation is hit and is suffering from the global financial crisis, back home in Australia, there are a few industries which seem to be continually growing and doing much better in this economy than everyone else: engineering construction, including mining and related structures. Private capital expenditure rose by 12.3%, and this year “building and structures” is up 39.5% from last year. This is being spearheaded by the boom in resources, and just the mining capital expenditures are up 67% from last year. The Australian government expects the value of civil engineering and construction to increase by 29% this year, and by 23.5% next year. These are phenomenal numbers which have helped Australia to use her one flourishing resource, engineering construction and specifically, mining, to boost and stabilize the Australian dollar. Compared with November, the AUD is up 5.4% against the USD, 5.93% against the JPY, and 4.24% against the EUR. This is due to strong investment data coming in regarding the AUD. Copper and zinc are almost up by ten percent, which further increases mining interests. However, the rise in the value of the AUD may be due to limited supply of these other resources, like copper and zinc. The more limited the supply, the more value that material possesses.

In any area which is remaining strong during a shaky economic transition, private capital expenditure increases, and government subsidies tend to increase as well. In fact, these strong and resilient industries tend to be where individuals gather to find jobs, maintain job security, and where they build economic growth centers, such as cities, in order to keep that production high. That “building and structures” could have such a positive influence on the perceived value and strength of the Australian dollar is incredible. Any private investor or investment firm who sees this and realises it will be interested in sinking further capital into these industries or specific businesses, which will further stimulate the Australian economy and further increase the value of the AUD.

Eco friendly companies are also holding sway over the public with reduced pricing and better quality products. Envirosafe Solutions offers many products, including drain and waste odour control, lubricants and radiator liquids which are all earth friendly. Call us today: (+61) 1300 88 90 70.