Japan's reconstruction will boost Australian miners
Tuesday, 15/03/2011
A resources analyst says Japan's reconstruction effort will increase demand for iron ore and coal from Australia.
Gavin Wendt, from Mine Life, says the devastating earthquake and tsunamis will cause some initial nervousness in the market.
But he says miners in coal, energy and iron ore products will see long-term benefits.
"Also, with the big question mark over Japan's immediate nuclear future, there's going to be the need for a country that's a huge energy consumer to look elsewhere for its energy needs," he said.
"I think that's going to be very positive for things like energy coal, for LNG, and also I think there's going to be a big increase in Japan's oil consumption as well."