Aussie dollar poison III - the mining and resources industry

It's just too expensive, apparently.  Oh and add to that increased competition and changing markets.  That's the message about the expected cutbacks in Australian mining projects according to a new report by ANZ which was profiled by Macro Business.

....We have again revised lower the potential pipeline of major projects in Australia to AUD440bn as at March 2013 from AUD474bn in October 2012 and AUD498bn in July 2012..... A considerable degree of uncertainty remains for currently uncommitted projects with only 60% (i.e. AUD270bn of the AUD440bn total) of the potential pipeline either committed or already under construction....
... the possible next wave of LNG investment in Australia faces a variety of challenges related to escalating labour costs, the high Australian dollar and the potential competitive threat of LNG exports from the United States. As a result, there is now only a very small likelihood of further onshore greenfield LNG developments being commissioned. ...
...Note that in effect that is $30 billion dollar’s worth projects disappearing per year for the next three years. That’s 2% of GDP per annum for three years gone. My goodness, that is a lot. And that’s before we add any multipliers which the RBA so loves to do.... (here).

And this at a time when new chief of BHP Andrew McKenzie is starting a slash and burn exercise in flattening the senior management and cutting projects.