Australia’s mining industry is massive, with a long history and a profound impact on global markets. Approximately 1.2 million people are employed in this industry, with annual exports reaching AUD 160 billion. BHP and Rio Tinto are leaders in this field, focusing on the extraction and processing of minerals such as coal, iron ore, and copper, with operations spanning the globe.
Western Australia (WA) is hailed as the heart of Australia’s mining sector, possessing 98% of the nation’s iron ore and 60% of its gold reserves, making it a key region in the global mining industry. Queensland is also experiencing a mining boom, with new explorations driving economic growth, contributing a record AUD 94.6 billion to the Australian economy in the 2021/22 financial year. Despite the significant contribution of mining to Queensland’s economy, it occupies only 0.1% of the land area.
Victoria holds an important place in Australia’s mining history, particularly with the discovery of gold in Ballarat in 1851. Today, Ballarat remains a major producer of various minerals and has significant exploration potential. The state’s mining projects are crucial to regional development, providing substantial employment opportunities. Fosterville is the largest gold mine in the state. Additionally, exploration is ongoing in the Glen Wills mountains near Mitta Mitta. With the growing demand for green energy and battery technology, exploration for vanadium and lithium is actively underway.