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In Australia's two-speed economy, mining booms but tourism suffers

From guardian.co.uk

In the Bowen Basin coalfields 600 miles north of Brisbane, a gold rush is in full swing. Black gold. Coal from this part of central Queensland – home to the country's biggest deposits – is driving the economy to set new records. "Huge just doesn't do it justice," says a recent Deloitte Access Economics report on the state's resources boom. "Humungous might bring us closer to the mark." Chris Richardson, a partner at the firm, says Australia has been riding in the slipstream of China and other emerging economies. "We have opportunities that the likes of the UK and others don't to sell our resources in a period ... (full story)

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