Canada’s Mining Industry May Be Set for a Boom
One of the largest contributors to the economy in Australia is mining, which is a primary industry in the country. In the past, a significant amount of immigration to Australia occurred during times of mining booms in the country’s past. There are a wide range of minerals and ores that are frequently mined all over the country. mining services
Minerals and resources extracted in Australia
There are a range of natural resources and minerals that are regularly extracted all over Australia. The most significant of these is iron ore. In 2008, the only two countries that supplied the world with a greater amount of iron ore were China and Brazil. More than 340 million metric tonnes of iron ore came from Australia.
Australia produces more nickel than any other country besides Russia, more zinc than any other country after China, and more Gold than any country after China. Australia is also said to have the third largest set of diamond deposits that can be sold commercially after Russia and Botswana.
Furthermore, no other country exports more coal to the rest of the world each year than Australia, which has a rich coal mining industry. The only three countries that produce, rather than export, more coal than Australia are China, the United States, and India. In the future, Australia is predicted to become the largest producer of natural gas on the planet in the next decade, and is currently the third largest producer on the planet.
Mining takes place in every state and territory of Australia, but some areas are thought to be more plentiful than others. The Goldfields, Pilbara, and Peel areas in the western part of Australia are particularly plentiful in natural resources, as are the New South Wales Hunter Valley and the Victoria Latrobe Valley.
Two of the most active mines in Australia are the Olympic Dam, which is located in South Australia and thought to have the largest resource of uranium on the planet, and the Super Pit gold mine, which is in Western Australia. Coal is mined throughout Australia, and is primarily used for electricity provision and exporting as a natural resource.
Economics of Mining
There are a range of mining companies in Australia with roots throughout the world, including Newcrest, BHP Biliton, Alcoa, Chalco, Rio Tinto, Shenhua, Xstrata, and Alcan. More than 5 percent of Australia’s GDP, or Gross Domestic Product, directly results from mining. This percentage is larger than the roughly 3 percent of GDP mining in Australia contributed in 1950, but it is still less than the more than 10 percent mining contributed in 1900.