Australia takes the Minerals Cake

If ever there was any doubt as to where the strength of the Australian Economy really rests latest statistics clearly indicate that as well as agriculture, mining in rural and remote areas of the country are its back bone.

The latest statistics on Australia’s vast mineral resources show Australia continues to lead as the world’s largest reserve holder or producer of key commodities such as gold, iron ore and lithium.

Minister for Resources and Northern Australia Matt Canavan launched the latest edition of the Geoscience Australia publication ‘Australia’s Identified Mineral Resources’ (AIMR) at the Prospectors and Developers Association of Canada (PDAC) Convention in Toronto.

“By almost any measure, Australia is a world leader in mineral resources. We hold the largest identified resources of nine commodities, including gold. We are also the world’s largest producer of five commodities. This includes lithium, a mineral resource with potential that is just beginning to be unlocked through new and emerging technologies.”

“We are also leading the way internationally in mining innovation and are exporting more mining services around the globe than ever before.”

“The importance of mineral resources and the mining industry to our economy, and to regional Australia in particular, cannot be overstated.”

In 2017, Australia had 301 operating mines. Of these, 97 were in Northern Australia.

AIMR has been compiled annually by Geoscience Australia and its predecessors since 1975, from statistics collected directly from the mining industry sector.

It includes assessments of reserves and resources at operating mines and other deposits; evaluations of long-term trends for major commodities; and comparative world rankings for mineral resources.