The Association of Mining and Exploration Companies (Amec) has lamented the recent decline in investment into Australia's resources sector. CEO Simon Bennison says around 65% of capital raised in 2013 had been spent overseas. Addressing delegates at the Amec Convention, in Perth, Bennison noted that spiraling production costs, frustration with land access issues and cost and delays associated with approvals processes had contributed to the decision of many Australian companies to head offshore, rather than develop local projects.
Gav it is a fair comment but the industry body also needs to accept/acknowledge that many investors are feeling hesitant after the recent rout. Resources is speculative and there are just as many sad and sorry tales on the investor side. The industry voice should pose a balanced view to lend credibility to these arguments.