Australia’s economy and its mining industry

Historically, mining plays an important factor in Australian economy. Mining had saved from bankruptcy the early colonies in Australia. It was in 1840’s when silver was first discovered in Australian resulting to the exportation of ore and started the mining boom in different states and towns in Australia. The discovery of copper that was soon followed by the discovery of Gold in Ophir, New South Wales in 1851 fueled the mining industry as an important factor in funding Australian’s developments and infrastructures. More and more towns turn to mining and it becomes a leading industry in providing jobs and livelihood to Australians as well as for immigrant workers.  With many mining sites around the country, Australian miners are known to use high technological means in mining such as mine blasting that is a means to prevent injuries to people and damage to equipment.

Today, mining industry continues to create jobs for Australian with 27,300 jobs created in 2013 based on the date released by Australian Bureau of Statistics or ABS. Mining industry in Australia is credited to contribute about 5.6 % of Australia’s GDP or Gross Domestic Product that is used to measure the standard of living. Mining industry in Australia has placed Australia in the world economy map as world’s largest exporter of coal, grabbing second place in world’s export of gold and uranium and as third largest exporter of aluminum with Japan and China as the leading buyers.

leakyfeederBesides providing the world with important minerals, Australian mining industry also exported mining technology and software to other countries involved in mining. Besides providing the world with important minerals, Australian mining industry is also exporting mining technology and software to other countries with mining potentials. Australia is a leading force in creating mining technologies and equipment aimed at saving and protecting miners’ lives. One of these is leaky feeder system that is the most advanced mining communication solution. It works by sending wireless and unlimited radio network. While some miners still use wired system for communication, Australian miners had built a system that reduces the dangers of emergency by installing wireless communication system. With high importance placed on mining industry, Australian government continues to create regulating measures aimed at developing mining researches and thus Australia’s mining industry has the most advanced mining technologies focus on saving lives and damage to properties and equipment. Many mines in Australia now use underground communication system and the technology is exported to other country with mining needs.

Australia enjoys the privilege of being one of the  world’s largest capitalist economies  and its mining industry contributes a solid share allowing Australia as a key player  in world’s mining industry.

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