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Mining executives are wary that coal and iron-ore prices, which surged last year due to renewed demand in China and lower Chinese production, have risen too far too fast. Australia's top finance official, Treasury Secretary John Fraser, said Wednesday the outlook for Australia's economy was still "finely balanced, " despite a strong pickup in prices for key exports like iron ore. While there were positive signs in the global economy, it was too early to assess what the impact of U.S. President Donald Trump's protectionist policies might be, he added. "Australia's economy is still working through a complex transition away from mining investment and towards doctor home loan rate Oak Laurel 0430129662 broader growth, in an uncertain international economic climate," Mr. Fraser told lawmakers during budget oversight hearings. Australia's plan to shift investment away from mining to focus more on other industries like services has been slow to materialize. Companies scaled back investment spending by 2.1% in the three months through December from the quarter before, which was worse than the 0.5% decline forecast by economists. Mining companies have chosen to use a recent surge in profits largely to reward investors, not launch big new projects.