Iron ore is Australia’s largest source of export revenue, worth $63 billion (approximately US$45 billion) in 2017. Each year the iron ore industry generates around $5 billion in royalties for the State Government of Western Australia (depending on market prices) and major iron ore producing companies (BHP, Rio Tinto and Fortescue) pay around $3 billion in company tax each to the Federal
Iron Ore Mining In WA. In June 2019, Western Australia had $16.6 billion of major iron ore projects under construction or committed and $41.6 billion under consideration. Western Australia’s iron ore sales more than doubled over the past decade, from 317 million tonnes in 2008-09 to 794 million tonnes in 2018-19. China is the State’s
West is best: profiling Western Australia’s mining boom. By Scarlett Evans. Share. Mining has long been a leading source of income for Australia’s west coast, and now new research from analyst firm IBISWorld has indicated the state is heading towards a new mining peak. Scarlett Evans looks at the projects driving the region’s mining sector, and the obstacles still faced in its ascent
That’s the brief history of mining in Australia and it brings us up to the present day at the tail-end of a boom that has lasted over 50 years, with some experts stating that the boom isn’t so much over as changed. Australia is still the world’s largest exporter of iron ore, accounting for 53 percent of world trade in 2014 and the second largest exporter of coal. The mining sector
Australia's EDR of iron ore declined from 1994 to 2003 (Figure 3.17) as a result of the combined impacts of increased rates of mine production and mining companies re-estimating reserves and resources to comply with the requirements of the JORC Code. Post 2003, EDR increased rapidly to 44 700 Mt in December 2012 (Figure 3.17), due to large increases in magnetite resources (including
Iron Ore. Extensive iron ore deposits were identified around Western Australia in the 1800s, but they were regarded as worthless without nearby coal. While small deposits east of Perth were mined around 1899, the industry only started to evolve with later mining in the far north and the Pilbara.
The Marra Mamba Iron Formation is the basal member of the Hamersley Group in Western Australia and is host to major iron-ore deposits in its upper Mt Newman Member including those mined at the nearby Hope Downs, Mining Area C and West Angeles operations. Wonmunna’s three mining leases contain the three deposits NMM, CMM and SMM but only the NMM and CMM deposits are currently
There are currently 66 gold mines operating in Australia, including 14 of the world’s largest, 11 of which are in Western Australia. This makes WA the country’s major gold producer, accounting for almost 70 per cent of Australia’s total production. The top ten gold projects in WA accounted for 58 per cent of the State’s total production.
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