The importance of the mining
industry to Australia is immense and has given the country the ability to be
one of the largest export economies in the world despite only holding around
.3% of the world’s population. While many realize the inherent importance of
mining to Australia’s economy, few outside of the industry hold an intimate
understanding of the minerals themselves and how their mining and utilization
enriches those in countries importing them. In an effort to spread knowledge of
the industry to outsiders hoping to learn, ABC Refinery Liquidation provides a
small list of Australia’s largest exports.
Iron Ore: Western Australia is the largest producer of iron ore in the
world, accounting for 33% of the global production in 2017. This is largely
because Western Australia has a vast amount of iron ore estimated to be over
120 million tons. The astounding quantity of the mineral creates a host of
economic benefits for the country. For example, 48% of the mining industry jobs
by commodity can be attributed to the iron ore industry, meaning that many
livelihoods within Australia can be directly attributed to the industry’s
continued success. Because iron ore is used to make pig iron, which is utilized
to create steel, Australia’s iron ore production has helped maintain the
business infrastructures of many developed nations as well.
Lithium: In recent years, Australia has beaten out Chile as the world’s
largest producer of lithium, producing 18,700 tons of the mineral in 2017.
Lithium is sought after for the manufacturing of aircraft and for batteries
used in a variety of technology. ABC
Refinery Liquidation notes that
the current boom of electric automobiles has also increased the demand for
lithium, with Australia holding the position as one of the main contenders in
conversations about how the world will keep up with demand of the mineral.
Gold: Australia is currently the second-largest producer of gold in
the world, second to only China in production. In 2018, Australia produced
312.2 tons of gold in 2018 which is noted by experts as a 6% increase in
production. While the mineral industry, in general, produces more than half of
Australia’s total exports, gold holds a special place in the nation’s rich
history. ABC Refinery Liquidation acknowledges that the gold rushes of the
1800s, for example, are a focal point of mineral production history of
Australia and are effectively the blueprint for what Australia’s mining
industry has become today.
