Mining boom and Aussie dollar crush steel regions

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Over a thousand workers experienced the downside to our mining boom today, as BlueScope steel took an axe to its steel operations, cutting jobs and ending steel exports. The mining boom has led to a strong Australian dollar, making or steel exports less competitive. The government today announced a 10 million dollar regional innovation fund for the illawarra region in NSW and the mornington peninsula area in Victoria. But Unions in the illawarra region south of Sydney say that a broader strategy is needed to ensure a long term future for manufacturing in those regions.

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