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.
Mining expenditure on new capital in 2004-05 was 9.9% of the Tasmanian total expenditure on new capital. The 2004-05 expenditure of $110m increased by 312.5% on the 2003-04 figure of $32m.
NEW CAPITAL EXPENDITURE(a), Actual Expenditure, Current Price
(a) actual new capital expenditure by private businesses.
Source: Private New Capital Expenditure and Expected Expenditure (cat. no. 5625.0).
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.
CAPITAL EXPENDITURE(a), Mining Industry - Tasmania 2003-04
|Australian Bulk Minerals||Savage River mine|
|Beaconsfield Mine||Joint Venture|
|Bluestone Mines Tasmania Pty Ltd||Renison Bell mine|
|Cement Australia Holdings|
|Copper Mines of Tasmania Pty Ltd||Mt Lyell|
|Cornwall Coal Company NL|
|Placer Dome Asia Pacific||Henty gold mine|
|Tasmanian Electro Metallurgical Co.|
|Zinifex Limited||Rosebery mine|
(a) Capital expenditure as reported.
Source: Mineral resources Tasmania, Annual Review 2003-04.
For further information refer to the Mineral Resources Tasmania website available at: http://www.mrt.tas.gov.au