Boston, MA -- (SBWIRE) -- 06/10/2014 -- The Australian mining industry is of vital importance to the country's economy with a 10.1% share of its GDP in FY 2012-13 and potential for significant employment generation. Further, substantial deposits and geographic proximity to emerging Asian economies augur well for this mining nation. The country produces 19 minerals in significant amounts and according to Geoscience Australia 2014, the nation is the second largest producer of lead and zinc, the fourth largest producer of nickel and the fifth largest producer of copper in the world, together with hosting the world's largest resources of lead, nickel and zinc and the second largest resources of copper. In 2013, Australia's copper mine production was 966,410 tons, nickel mine production was 220,664 tons, zinc mine production was 1.6 million tons (Mt) and lead mine production was 603,340 tons.
- The ban imposed on nickel ores and concentrates exports by the Indonesian government is likely to benefit the Australian nickel mining industry. Australian nickel miners have been facing difficulties because of lower nickel prices in recent years.
- Continued weakness in prices of base metals has started affecting the development of planned projects in Australia. The base metal industry is facing a downturn as commodity prices are declining and many projects are delayed due to rising input cost.
- Australia had the second largest copper reserves in the world next to Chile with 86Mt or around 12.6% of global reserves at the end of 2012, according to the United States Geological Survey (USGS). Australia's Joint Ore Reserves Committee (JORC) compliant reserves were about 25.2Mt and EDR was 91.1Mt at the end of 2012.
- Almost 90% of Australia's economic resources of nickel are located in Western Australia followed by New South Wales (5%), Queensland (4%) and Tasmania with less than 1%. Australia is home to the world's largest komatiite-hosted nickel sulphide and lateritic deposits.
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The report contains an overview of the Australian base metals mining industry together with the key growth factors and restraints affecting the country's base metals mining industry. Further, it provides detailed information about production, prices, reserves, reserves by regions, competitive landscape, major active, exploration and development projects, consumption and trade. Also included is the country's fiscal regime, which includes governing bodies and relevant laws, rights and obligations of the mining companies, as well as key fiscal terms.
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Companies Mentioned in this Report: MMG Ltd, Western Areas Ltd, Panoramic Resources Ltd, Hillgrove Resources Ltd, Glencore Xstrata Plc, China Minmetals Corporation Newmont Mining Corporation, Intec Ltd
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