August 13, 2012

By Frank Holmes, CEO and Chief Investment Officer, U.S. Global Investors

Australian mineral drilling companies are looking to pack up shop and head to Africa and other regions in response to the collapse in new mining development in Australia. The Gillard government policies have decimated the local mining industry. Earlier in the week, Deloitte Access Economics predicted the mining boom would last only another two years in Australia while the country's resources minister Martin Ferguson said the era of high commodity prices was already behind us.

Source: This was excerpted from U.S. Global Investors' Advisor Alert, July 27, 2012, www.usfunds.com.

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