OK, TH heard some protestations from Mr Kilmartin. Something like:
Apparently his point is that mining only makes a small contribution to the Aussie economy (less than 10% of
trade GDP). And he would be right. Here is the chart.
The only thing that TH would add is that based on the ABS statistics, mining looks to be about as important now as manufacturing. So saying that mining is not important is like saying that manufacturing is not.
Sorry TH is a bit pressed for time so he wont elaborate on the employment and other elements of mining’s contribution, except to add that with respect to investment it is big, but Hume suspects that Mr Kilmartin knows that already. Perhaps DK will add a comment.