National Australia Bank Limited’s
(ASX:NAB) CEO Cameron Clyne says the mining investment boom is still going strong despite softening commodity prices.
Mr Clyne told a business lunch in Sydney yesterday there is no suggestion a massive pipeline of investments will stop even though commodity prices are coming off.
Mr Clyne says commodity prices are in fact quite high though would appear to have peaked.
The comments come one week after Federal Resources Minister Martin Ferguson prompted debate when he claimed the resources boom is over but went on to clarify he believed commodity prices had peaked.
In the first half of the 2012 financial year National Australia Bank reported a net profit of $2.05 billion.
