Australia is richest in various minerals, such as iron ore, coal, gold, nickel, uranium, bauxite, phosphate, mineral sands, oil, and natural gas. The mining industry accounts for 4.1% of the country’s GDP. Mining is not only the most popular industrial activity in Australia but also the oldest industrial activity. Since the gold rush of the 19th century, the mining industry has developed strongly.
According to the Australian Geosciences Corporation, an organization led by the Australian Government, Australia has the world’s largest reserves of zinc (18% of the world’s proven economic resources), lead (33%), nickel (37%), and rutile (accounting for 39%), zirconium. (41%), tantalum (95%) and uranium (40%). Bauxite (25%), black coal (5%), lignite (24%), copper (9%), gold (13%), iron ore (9%), ilmenite (20%), manganese ore ( 11%)). ), silver (15%) and industrial diamonds (10%) are the world’s six largest leaders.
Mineral resources also play an important role in the country’s international trade. Mineral exports in 2006/2007 were approximately 71 billion Australian dollars. The exponential growth of mineral exports is due to the rapid economic growth of Asian countries, especially China. Australia’s geographic location and its proximity to Asia have greatly reduced travel costs, which has a significant impact on price-sensitive Asian customers. Coal, copper and iron ore account for the largest share of minerals exported to Asia.
Mineral exploration is an ongoing activity that is essential for the continuous discovery of minerals and meeting the growing global demand. The Australian Bureau of Geological Sciences has spent A$58 million in five years for major research on hydrocarbons and energy minerals in the Australian continent. Geoscience estimates that mineral exploration expenditures reached US$1.46 billion in 2006, an increase of a record 29%. Exploration of gold and zinc accounted for 29% of expenditures. The exploration costs for non-ferrous metals more than doubled, while the exploration costs for copper, coal and uranium increased by 68%, 24% and 103%, respectively. Approximately 66% of mineral exploration expenses are used to confirm the existence of promising minerals and to determine and determine their properties.
Australia’s mining industry
Australia’s mining industry does not focus on the ruthless exploitation of natural resources but is committed to sustainable development that meets current needs without compromising the ability of future generations to meet their own needs. The mining work complies with the International Council of Mining and Metals (ICMM) guidelines and the Australian mining environmental management regulations. Advanced technology, state-of-the-art equipment, and skilled workers ensure that mining is conducted in a social, economic, and environmentally friendly way.