Australian minerals

Australian minerals shine on global stage

Geoscience Australia has released the latest report on Australia’s Identified Mineral Resources (AIMR) during the Prospectors and Developers Association of Canada Convention in Toronto.

AIMR 2018 uses data collected from the mining industry in 2017 to present estimates of Australia’s mineral reserves, resources and mine production.

Geoscience Australia’s Chief of Resources, Dr Andrew Heap, said the report confirms that Australia has the world’s largest identified resources of many valuable commodities, including gold, iron ore, and nickel.

“Geoscience Australia has collected data on mineral resources and reserves annually for over 40 years, and this historical data shows that Australia is consistently a global leader in mineral resources,” Dr Heap said.

“We are world number one in the production of important minerals for manufacturing, including bauxite, iron ore, lithium and rutile, and we are in the top five for a number of other important commodities.

“It is also encouraging to see the Economic Demonstrated Resources for graphite, platinum group elements and vanadium revised upward since the last AIMR report.”

Dr Heap said that as at December 2017, Australia had over 300 operating mines producing 26 major and minor mineral commodities.

“Mineral resources were a major contributor to Australia’s economic wealth in 2017 – Australia’s mineral exports amounted to $179 billion, which was 59% of all exported merchandise,” Dr Heap said.

“AIMR provides a strong evidence base to develop policy, investment by the Australian Government, and the continued optimal management of our nation’s valuable mineral resources.

“The minerals prospectivity highlighted in AIMR is also a useful tool that helps industry attract global investment into Australia.

“This ongoing investment in Australia’s minerals sector will help to grow the nation’s economy and create more jobs.”

The Prospectors and Developers Association of Canada Convention in Toronto is the world’s premier mineral exploration and mining convention.

The report is now available online at www.ga.gov.au/AIMR.

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