A large copper deposit has been discovered on the Yorke Peninsula. It is believed that this new discovery is going to generate jobs opportunity to hundreds of people. This discovery has risen the confidence level of shareholders and they are increasing their shares investment. South Australian Chamber of Mines and Energy chief executive Jason Kuchel was cautiously optimistic about its potential.
Large scale, shallow and low cost bulk mining is possible the copper and gold discovered are located only 10 metres below ground level.Mines sites should be built near the roads, ports, power and the city to ease for transportation, creating a win-win situation to the companies as well as the communities.
It shows that there is going to be a boom for mining industries after this discovery. Economics again!It can brighten up the economy condition of Australia as there is a high demand for these raw materials in China. This is the main cause for the booming of this industry. Meanwhile, it helps the country to achieve full employment objective and generate economic growth. However, it may cause larger income disparity among workers in different industries as mining industry is now over perform if compared to other industries.
ReplyDelete