King says latest forecast shows industry's importance to economy
Despite its resilience, Australia's minerals industry is under pressure as supply and demand fluctuates due to lower prices, global instability and weaker economic growth in China.Minerals Council of Australia chief executive officer Tania Constable said this had slowed the pipeline of projects and developments.Constable was speaking in response to the federal Department of Industry, Science and Resources' September Resources and Energy Quarterly.
"King said despite lower world prices for iron ore and LNG exports, Australian iron ore and LNG continued to support the economies and energy security of Australia's trading partners.She said the data also forecast higher demand for resources essential for low-emissions technologies such as copper, aluminium and lithium.
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