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Australia Mining Industry Overview
Australia is one of the world’s leading mining jurisdictions. In 2015-2016, the total GDP of Australia’s mining and METS (Mining Equipment, Technology and Services) sector was $236.8 billion, or around 15% of the Australian economy. The country is a leading producer in iron ore, gold, copper, bauxite and coal. Australia’s mining environment will continue to grow exports to Asia, especially China and India.
Australia’s mining and METS sectors have a long history of strong performance, and many suppliers now export globally. Therefore, Australian mining companies can largely meet their needs locally.
Most mines are open pit rather than underground, and infrastructure challenges and climate are different than most countries. For example, parts of Australia often experience droughts and floods. However, some challenges are common to Australia such as high labour costs and environmental concerns. Already highly automated, the Australian industry will see a lot of new technology integration in the coming years.