Mining and Resources
A sophisticated equipment, technology and services sector
Australia’s abundant mineral resources, sophisticated mining equipment, technology and services industry, and proximity to the rapidly growing Asian markets, have made it a world leading mining nation with an investment pipeline of $430 billion.
In 2011, Australia’s energy and mineral commodity export rose to a record A$190 billion, a 15 per cent increase on the previous year signifying continued strong demand for minerals and commodities from China and other parts of Asia.
Abundant and diverse resources
Australia’s mining and resources sector has contributed significantly to the country’s continued prosperity. In 2010-11, the mining sector contributed approximately 7.7 per cent to Australia’s total Gross Value Added, a total dollar gross value of approximately $96 billion (Source: Australian Bureau of Statistics, Cat. No. Australian System of National Accounts 5204.0, 2010-11). Australia is endowed with an abundant supply of mineral resources, most of which can sustain current rates of mine production for many decades. Australia has:
- the world’s largest reserves of brown coal, mineral sands (rutile and zircon), nickel, lead, silver, uranium, iron ore and zinc
- the world’s second largest reserves of bauxite and tantalum
- the world’s third largest reserves of copper, and
- the world’s fourth largest reserves of silver
Sophisticated mining equipment, technology and services
The scale of Australia’s mining and resources industry has enabled it to develop a sophisticated mining equipment, technology and services sector. Australia is highly competitive right across the spectrum, including in the development of mining software and equipment; scientific analysis; exploration assessment technology; mineral processing technology; environmental services; and health and safety services and equipment.
The Australian mining exploration and support services (including equipment, technology and services) sector contributed approximately A$9.1 billion to the economy in 2010-2011 (Source: Australian Bureau of Statistics Cat. No. 5204.0, Australian System of Natural Accounts, 2010-11). The industry invests significantly in R&D, and this has been crucial to developing Australia’s competitive edge in this field.
Opportunities for investment
Australia is ideally positioned within Asia-Pacific, the fastest growing region in the world. Unprecedented demand for commodities from the region has driven high levels of investment in minerals exploration and development projects. This expanding market potential is backed up by Australia’s highly developed infrastructure, skilled workforce and strong focus on R&D and innovation – which make Australia an ideal destination to establish operations.
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