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An important component of the Australian economy, mining in Australia was dominated by Minerals and Metals Group (MMG) Limited with an operating revenue of almost *** billion Australian dollars in fiscal year 2016. The global resources company is involved with exploration, development and mining, with a focus on metals such as copper, zinc, gold and silver. Trailing behind MMG was Evolution Mining Limited, with an operating revenue of *** billion Australian dollars in the same year.

Economic contribution of mining

The mining industry has historically been one of the strongest in the country, contributing greatly to Australia’s gross value added, export market and workforce. Gold and coal mining dominate revenue generation in the market and iron ore mining has experienced high growth in recent years. Unsurprisingly, overseas investors have a strong interest in mining and quarrying in Australia, with foreign direct investment valued in the hundreds of billions of Australian dollars.

Export industry

As the country produces more mining resources than it consumes, Australia has established itself as a leader in the trade of mined resources. Globally, Australia is the largest exporter of coal, iron ore, bauxite and alumina. Despite experiencing large increases in resource and energy export earnings in recent years, Australia’s reliance on this industry carries a risk, particularly with increased competition from other countries and lower demand from export partners.