New mining projects: don’t miss a lead

Mining is the engine room of the Australian economy, driving growth, jobs, wealth and innovation across the country. The mining sector has increased from 5% of GDP through the 1990s to 10% in 2010-2011 in Australia. In 2010-2011, mining surpassed manufacturing to be the industry with the second largest gross value added (GVA^#) contributionⁱ.

When the Federal Government was preparing the 2011-2012 budget, the forecast for the overall economy was to grow at 4%. However, the forecast for mining and related metals activities was dramatically higher at 10%, driven by strong boosts in mining investment.

The benefits from the mining boom are also forecast to drive dramatic growth in related product and services sectors. As Dr Martin Parkinson, Secretary to the Treasury, noted in a speech at the University of Western Australia in August, 2011:

“In addition to generating strong growth in the mining industry, the resources boom is supporting strong growth in the mining-related construction, services, manufacturing and transport sectors. Mining-related production, which represents a further 8-10 per cent of the economy, was expected to grow around 30 per cent in 2011-12 and 20 per cent in 2012-13.”ⁱⁱ

And they’re forecasts supported by recent commentary from US-based Fast Market Research.

With growth predictions like these, if you supply, service or monitor industrial and mining projects, keeping track of both new projects and new initiatives in existing projects is critical. It underpins turnover and profit growth, and can ensure you have the jump on competitors.

If you’ve tried to do it on your own, you’ll know that staying abreast of the vast mining industry takes both experience and effort. And you’ll also know that if you miss a lead on a new project, it can be disastrous for your results.

One option to keep tabs on new mining projects is to work with a partner like Cordell. With over 75 project researchers across the country and a 40-year proven track record, Cordell provides timely information on mining developments.

And it’s not just the headlines: the products and services required by projects are determined and the decision makers identified. Plus, when you act on a Cordell lead you’ll not only know what and who, you’ll also have full company and project background information.

There’s no doubt it’s a good time to work with the mining industry; with the right help you can find a project to suit the requirements of your business. Make sure you don’t miss out.

# “Industry GVA is the term used to describe the unduplicated value of goods and services produced by individual industries”, VALUE OF GOODS AND SERVICES PRODUCED BY AUSTRALIAN INDUSTRY, Industry Structure and Performance, 1301.0 – Year Book Australia, 2012, Australian Bureau of Statistics.

i Economic Contribution, Mining Industry, 1301.0 – Year Book Australia, 2012, Australian Bureau of Statistics.

ii  Dr Martin Parkinson, Secretary to the Treasury, SUSTAINABLE WELLBEING – AN ECONOMIC FUTURE FOR AUSTRALIA, Shann Memorial Lecture Series, University of Western Australia, 2011