Wednesday, 4 February 2015
Perth Commercial Properties for Lease Opens City for Diversification
It’s about time Western Australia got out of its comfort zone and diversified in business, state business leaders urged. With the mining boom all but gone, the state must learn not to rely on mining alone for its revenue, and instead look elsewhere to sustain its growth. In fact, a number of former mining magnates have begun their exodus. In July 2014, Fortescue Metals Group founder Andrew Forrest transitioned to agriculture, buying plots of land and hiring farmers, in response to the new “dining boom.” Around the same time, Gina Rinehart of Hancock Prospecting group followed with a major investment in the country’s cattle industry, spending around $40 million in a 1.1-million acre plot of land in the Kimberley region, north of Perth.