Metal mining industry in Australia - statistics & facts
Australia has a significant global standing in the metal mining industry and plays a crucial role in the worldwide trade of metals. From iron ore, gold, and silver, to critical minerals such as lithium, the country has continued to solidify its presence in the global metal marketplace. Still, recent developments in the nickel sector have shown that Australia is not immune to the economic challenges and competitive global supply in this industry.
Australia is a global leader in producing bauxite, iron ore, lithium, gold, silver, and copper. Minerals and metal ores are mined across the country, with Australia often ranked among the leading countries in metal reserves. The largest deposits of iron ore and gold are in Western Australia. Bauxite is mined in Western Australia, Queensland, Tasmania, and the Northern Territory. Bauxite is used to produce aluminum as well as in the chemical, cement, steel, and petrol industries.
Australia is a leading player in the metal trade market. Although iron ore is currently Australia's most prominent metal export, the value of other metal exports is also high. The export of lithium from Australia is forecast to reach almost 20 billion Australian dollars.
While Australia's production of these metals may place the country in an advantageous position, the industry also faces challenges such as lower-cost supply from other countries and the resulting fluctuating prices for these metals. In 2024, for example, following a global oversupply of nickel resulting in falling nickel prices, BHP announced the suspension of its extensive nickel operations in Western Australia, potentially affecting up to 3,000 employees.
Australia’s metal mining economic contribution
The industry's contribution to the nation’s GDP has historically been high, with the income from the metal ore mining industry exceeding 200 billion Australian dollars. Additionally, over 90 thousand people are employed in the metal mining industry across the country, either directly or indirectly.Australia is a global leader in producing bauxite, iron ore, lithium, gold, silver, and copper. Minerals and metal ores are mined across the country, with Australia often ranked among the leading countries in metal reserves. The largest deposits of iron ore and gold are in Western Australia. Bauxite is mined in Western Australia, Queensland, Tasmania, and the Northern Territory. Bauxite is used to produce aluminum as well as in the chemical, cement, steel, and petrol industries.
Australia is a leading player in the metal trade market. Although iron ore is currently Australia's most prominent metal export, the value of other metal exports is also high. The export of lithium from Australia is forecast to reach almost 20 billion Australian dollars.
The future of metal mining
While mining can result in high fossil fuel emissions, many metals mined are necessary for green technology. Lithium, for example, is used in lithium-ion batteries of electric vehicles. The global demand for lithium is expected to continue increasing in the coming years. Solar panels and wind turbines, both renewable sources of energy, also require metals such as titanium, nickel, and cobalt.While Australia's production of these metals may place the country in an advantageous position, the industry also faces challenges such as lower-cost supply from other countries and the resulting fluctuating prices for these metals. In 2024, for example, following a global oversupply of nickel resulting in falling nickel prices, BHP announced the suspension of its extensive nickel operations in Western Australia, potentially affecting up to 3,000 employees.
