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Australia's resources boom is over, minister warns

24 August 2012 Last updated at 13:32 BST

Australia's resources minister has said that the country's resources boom, one of the biggest drivers of its economic growth, is "over".

"You've got to understand, the resources boom is over," Martin Ferguson said.

Mr Ferguson said the sector had done well and attracted a lot of investment making it the "the envy of the world".

Duncan Kennedy reports.