The boom in Australia's mining investment is near its peak, though it will remain at very high levels for the next year or so.
The Reserve Bank of Australia said capital expenditure in the resources sector, the major driver of growth in the Australian economy in recent years, was likely to remain around its current levels next financial year.
Investment figures released by the Australian Bureau of Statistics in February indicated the resources boom would hit its peak in the 2013/14 financial year.
But the RBA said the figures were likely to be revised lower and information from mining companies suggested they had wound back their investment intentions since mid-2012.
"It seems likely that mining investment in 2013/14 will remain around its current levels," the RBA said in its quarterly Statement on Monetary Policy.
The ABS will release updated capital expenditure figures of May 30.
Once mining investment peaks, it will no longer add to Australia's growth in gross domestic product (GDP), which means other parts of the economy will need to pick up in order to boost economic growth.
Still, with a number of resources projects still in the pipeline, mining investment is expected to remain at historically high levels for the next 12 months.
"This reflects the large stock of resource projects already committed to, which is expected to keep mining investment at an elevated level for some time," the RBA said.
But while investment wanes, the RBA said commodity exports are expect to increase at an annual pace of 10 per cent over the next six years, as new mines come on line.
Meanwhile, it said employment in the mining sector had fallen since last year.
"There has been a further shift in employment growth away from mining and business services, with employment in these industries remaining below the peaks reached in 2012."