MOUNT Isa Mayor John Molony has rejected the findings of a report which says the benefits of the mining boom have peaked, with the industry no longer boosting growth.
The report, prepared by former Reserve Bank board member Bob Gregory and Peter Sheehan, a former head of the Victorian Treasury, calls on the Government to abandon its promise of a budget surplus next year.
The document, published by the Victoria University, reports a shift in global demand from minerals to liquefied natural gas, coupled with a high Australian dollar, was responsible for "reducing the competitiveness of Australian suppliers".
But Councillor Molony said the North West Minerals Province was still well positioned to benefit from a continued mining boom.
North West Star
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