Project cancellations, delays likely amid commodity price drop

The fall in commodity prices has had the unavoidable effect of dragging down investment in the Australian resources sector, advisory firm Deloitte reported on Wednesday. In its most recent Investment Monitor, Deloitte noted that the collapse of key commodity prices would challenge the uptake of new projects, with several potential resource projects considered to be too far up the cost curve, giving rise to a number of project cancellations and delays in the near term.