According to a report by the Australian Bureau of Resources and Energy Economics (BREE), in the past 12 months mining and energy projects worth A$150 billion have been delayed or cancelled in Australia. The report also indicated that the mining boom in the country has possibly peaked.
BREE report said that as of April 2013, total mining investments amounted to A$267.7 billion, compared to A$268.4 billion as of October 2012. Mega projects worth over A$5 billion have been the main diver of this record high level of investment in the resources and energy sectors. The report suggests that the value of projects will decrease to A$256 billion by the end of current year, while it is predicted to fall to A$70 billion in 2017 and A$25 billion in 2018.