Australia has affirmed its position as the world leader in holding or producing key mineral resources such as gold, iron ore and lithium, according to the latest statistics released by Geoscience Australia (GA).
The statistics are contained in GA’s publication, Australia’s Identified Mineral Resources, unveiled at the Prospectors and Developers Association of Canada Convention in Toronto.
Speaking at the convention, Minister for Resources and Northern Australia, Senator Matt Canavan said that by almost any measure, Australia was a world leader in mineral resources.
“We hold the largest identified resources of nine commodities, including gold,” Senator Canavan said.
“We are also the world’s largest producer of five commodities. This includes lithium, a mineral resource with potential that is just beginning to be unlocked through new and emerging technologies,” he said.
“We are also leading the way internationally in mining innovation and are exporting more mining services around the globe than ever before.”
Senator Canavan said resource companies wanted to invest and do business in Australia.
“Our first-class regulatory system and stable economic and social environment makes us an attractive destination for mining investment,” he said.
“In 2016-17, mineral resources made up around 37 per cent of Australia’s exports. Overall, the mining industry sector currently accounts for 7.4 per cent of Australia’s gross domestic product.”