Abbott promises to revive Australia’s mining sector

Australia’s incoming conservative government promised to reboot a stalled mining boom and revive an appetite for investment yesterday after leader Tony Abbott swept into office on a platform to scrap a mining tax and run a stable administration.

Abbott’s Liberal-National Party coalition ended six years of often turbulent Labor Party rule and three years of minority government, winning a majority of more than 30 seats in the 150-seat parliament at Saturday’s national elections.

It was Labor’s worst result since 1934.