SYDNEY, Nov. 5 (UPI) — Australia’s mining sector is expected to suffer from China’s economic downturn, says a new report. “With China’s economy on course for a rude slowdown over the coming years,” says the report, released Monday by London-based research consultants Business Monitor, “Australia’s mining sector is set to suffer the painful spillover effects of a sharp investment slowdown.” The report notes that Australia has been among the biggest beneficiaries from the China-led commodities boom over the past decade. The value of the Australia’s mining industry had increased more than six-fold from $24 billion in 2003 to $147 billion in 2012, boosted by a sharp rise in the value of Australia’s mineral exports, particularly iron ore and coal. While Business Monitor predicts the value of Australia’s mining sector to reach $181 billion by 2017, the average annual growth rate is expected to be 4.3 percent through 2017, compared […]