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Australia Mining Industry
Taiyou Research, Jan 2012, Pages: 100
Australia remains a leading player in many segments of the global mining industry. Owing to its substantial deposits, the country possesses an array of minerals including iron ore, nickel, bauxite, copper, gold, silver, uranium, diamonds, zinc and coal. The Australian Mining industry occupies an important place in the nation's economy. Although it is one of the smaller sectors, it is the most important exporter. The Mining industry is expected to generate revenues of about $224.9 billion in 2011-12, yielding yearly growth of 10.1%. Its 2,500 firms employ 243,152 people, paying about $32.9 billion in wages in 2011-12.
Western Australia accounts for the largest share of sector output (nearly 47%), reflecting the state's importance across a broad range of minerals, especially gold, oil and gas, diamonds, nickel and iron ore. Western Australia's share has edged up over the past few years, mainly because of growing iron ore output. Further expansion of the mining activity in Western Australia (especially in gas extraction and iron ore production) is expected. Queensland accounts for about 29.5% of industry, reflecting the state's importance in black coal production as well as its continued output of a range of metallic minerals, especially copper and lead. The country is often referred to as being a “quarry” based on the fact that only a small proportion of its mineral production is refined in the country, with the remainder being exported. The minerals industry accounts for nearly 60% of Australia’s export earnings.
BHP, Rio Tinto, and Xstrata are some of the leading players in the market. The vast majority of this growth is due to expansion plans at Rio Tinto's Weipa mine, the world's largest bauxite mine, which is expected to see production rise from 18mntpa to 50mntpa in 2013.
Australia is to remain a highly attractive destination for foreign investment despite the recently proposed 30% tax on mining companies' profits in coal and iron ore production. Due to its unique geology and size, Australia’s mineral potential is still excellent. However, an increasing amount of exploration funding is finding its way overseas due to several local issues restricting the industry. One of these issues is that of native title, which effectively excludes vast areas of land earmarked for settlement.
Furthermore, meeting stricter environmental controls is beginning to be costly while red tape concerning development approvals and tax structures, such as the gold royalty regime in Western Australia, are also impediments. Australia's zinc production is likely to miss most of the negative effects of increased taxes on the mining sector. Whilst iron ore and coal companies will be hit by plans to tax profits, zinc mining is exempt from the proposal. In addition, zinc mining and refining is less energy intensive compared with other sectors and thus will come off better form plans to charge mining companies for carbon emissions.
In this industry scenario, Taiyou Research analyzes the Australian Mining Industry. The report covers the following:
- An industry definition.
- A brief analysis of the Asia Pacific mining industry. Taiyou Research look at the mining industries in Australia, China, Indonesia, India, and Philippines.
- An analysis of the Australian mining industry includes industry statistics, market value and volume analysis, an industry segmentation and a regional market share analysis.
- Analysis of the regulatory framework governing the mining industry in Australia. Taiyou research also look at the tax reforms that are likely to be undertaken by the Australian government in the near future.
- An analysis of the various commodity markets in Australia. Markets analyzed include the market for bauxite, coal, copper, iron ore, nickel, uranium and zinc. For each commodity, Taiyou research analyze production statistics, new projects, existing projects, major producers, and the industry profile.
- Competition in the industry is analyzed through competitive landscape, the strategic importance of the sector, and an analysis of the major companies.
- Major players are analyzed through a company overview, analysis of the major business segments, and a SWOT analysis.
An industry forecast completes this comprehensive coverage of the Australian Mining Industry from Taiyou Research.
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