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Major Australian Mining Companies Feel the Pinch, an Industrial Info News Alert


September 24, 2012 - Perth, Australia

Researched by Industrial Info Resources (Perth, Australia) -- The combination of the high Australian dollar, falling commodity prices, and ever-increasing cost pressures are finally taking their toll on the "booming" Australian mining sector, with almost all of the major Australian producers announcing some form of cost reduction strategy over the past month. BHP Billiton (NYSE:BHP) (Melbourne, Australia), Rio Tinto Iron Ore (NYSE:RIO) (Melbourne), Fortescue Metals Group (PINK:FSUGY) (Perth), Vale Australia (Brisbane, Australia) and Xstrata Coal (ASX:FMG) (Sydney, Australia) currently seem to be engaging in a race to see who can delay or cancel the most projects and lay off the most workers in the shortest timeframe possible.

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Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.

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