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Australia is virtually the smallest of all the continents in the world but is definitely one of the most desirable and important places to lure people for a wide variety of reasons. There are not only abundant natural flora and fauna regions and places to visit and learn a lot but it is also the world’s thirteenth largest economy of the world. The country also boasts a wide range of minerals like iron ore, nickel, coal, gold, uranium, bauxite, mineral sands, phosphates, oil and natural gas. Mining and mining interrelated activities give to 4.1% of the country's Gross Domestic Product. Mining is not only the most modern but also a very old industrial activity in Australia. The mining industry has been growing by leaps and bounds right since the Gold Rush in the 19th century.
Geoscience Australia, an association under the Australian government, states that Australia is currently recognized the planet's largest treasuries of zinc (18% of the world's economic demonstrated resources), Lead (33%), Nickel (37%), Rutile (39%), Zircon (41%), Tantalum (95%) and Uranium (40%). Bauxite (25%), Black coal (5%), Brown coal (24%), copper (9%), Gold (13%), Iron ore (9%), Ilmenite (20%), Manganese ore (11%), Silver (15%) and Industrial diamonds (10%) rank in the top 6 all over the world.
Mineral resources play a pivotal role in improving a country's intercontinental trade, with mineral exports being importance some A$71 billion in 2006/07. The exponential raise in mineral exports is credit to the additional development of Asian economies, specifically China. Australia's ecological location and its proximity to Asia lessen the transport costs by an enormous periphery, a factor that crucially affects the money-conscious Asian customers. Coal, copper and iron ore occupy the lion's share in the mineral exports that are Asia bound.
Mineral Exploration is a constant activity that is important for the sustained finding of mineral resources to achieve the mushrooming worldwide demand. Over a span of five years, Geoscience Australia expended $58 million to carry out prominent surveys for the finding of hydrocarbon and energy minerals in aground Australia. Geoscience puts the mineral investigation expenditure at an enormous amount of $1.46 billion in 2006, a record 29% raise. Gold and Zinc investigation took 29% of the expenses pie. Base metal investigation expenditure over doubled whilst the spending on copper, coal and uranium exploration went up by 68%, 24% and 103% respectively. Nearly 66% of the mineral investigation expenditure was expended on bearing out the occurrence of a potential mineral and in discovering & defining its character.
The mining industry in Australia does not give attention to the hardnosed utilization of the natural resources but on unremitting growth that substantiate the needs of the present without finding the middle ground of prospective generations to cater to their personal needs. The mining industry's endeavors are in accordance with the protocols of International Council on Mining and Metals (ICMM) and the Australian Minerals Industry Code for Environmental Management. Innovative technology, machinery and experienced workers make sure that mining is carried out in a socially, reasonably and eco-friendly manner.
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