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Machinery prices rebound amid resources sector recovery

Australia’s second-hand mining and civil fleet has increased in value by 41%, according to the Ernst and Young Yellow Goods Index.

The findings  represents a complete turnaround in the past 18 months, and is a sign that recovery is underway in the mining industry. Late model, low hours-used equipment prices rose the most, at an average of 20-25%.

While positive, Ernst and Young head of mining for Oceania, Paul Murphy, said it was still well below the highs of 2013 and there is an unexpected and sustained recovery in the commodity prices of the two top exports, iron ore and coal, which contributed to the improved figures.

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