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Top mining nation readying fresh investment wave as prices rally

Mining companies in Australia, the world’s biggest exporter of iron-ore and coal, are poised to approve fresh investments in projects, driven by rallying commodity prices and the need to replace depleting deposits, according to global equipment supply giant Komatsu. “They’re looking at new fleets of equipment,“ Sean Taylor, CEO of Komatsu’s Australian unit, said in an interview in Sydney. The miners have to reinvest in output “because otherwise they can’t maintain production at the levels that they’re at," he said.

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