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As investors look to diversify from struggling resources stocks, the technology sector is increasingly becoming a preferred destination for Australian...

OnMarket

As investors look to diversify from struggling resources stocks, the technology sector is increasingly becoming a preferred destination for Australian capital. Mining has been woven into the fabric of Australia from Captain Cook's landing of The Endeavour - which, incidentally, began life as a coal ship before being refitted for exploration. Since then, Aussie mining has gone from strength to strength - in 2011-2012 iron ore, coal, and gold together accounted for 40% of all Australian exports. The lifeblood of the industry are its explorers - the entrepreneurial dream and promise of future supply. But while the mining sector is investing in Australia, it seems Australia is no longer investing in the mining sector. Spooked by rapidly tumbling coal and iron ore prices and a bearish commodities outlook, Australian investors have turned instead to the mushrooming local technology economy - and have embraced it with open arms. Continue reading: (VIEW LINK)


OnMarket
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