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Capital expenditure refers to the acquisition of tangible assets and reflects the needs of individual operations at the time. Major drivers include the need for plant and equipment and/or development needs to bring new areas for mining into production. New capital expenditure refers to the acquisition of new tangible assets, but does include second-hand assets that have been imported for the first time.
Mineral Resources Tasmania reports that 2003-04 saw a renewed confidence in the mining industry, and that this was paralleled by investment in capital investment programs. The capital investment included upgrading of plant and equipment, vehicles, ventilation systems and mine rehabilitation. Comalco had the largest expenditure of $31m in 2003-04 followed by Placer Dome Asia Pacific with $12m at the Henty gold mine.
For further information refer to the Mineral Resources Tasmania website available at: http://www.mrt.tas.gov.au.