The mining industry is fighting for its survival
—
Dear Tony,
Mining contributes about 5.6% of Australia’s Gross Domestic Product (which according to the World Bank equates to $51.7b) and employs 129,000 Australians, (about 1.3% of the total labour force)
It made $93.6b profit in the past year, 30% of total nationwide profits.
It will export $83b in 2011-12 and an estimated $218b in 12-13.
Can we get some of that “struggling” industry cash?