-
Australian mining sector faces surge in insolvency rates
In a stark indicator of economic strain, the Australian mining sector has witnessed a dramatic 41% surge in its failure rate year-on-year as of May, according to the latest data from credit reporting bureau CreditorWatch. This increase underscores the growing financial instability affecting both small enterprises and large businesses within the industry. CreditorWatch’s May Business Risk Index (BRI) highlights that the majority of insolvencies have been concentrated in companies operating within the mining services sector. The mining sector’s 41% increase in the failure rate is followed by a 20% year-on-year ... (full story)