From powering skyscrapers with iron ore to electrifying the future with lithium, Australia's mining industry is a titan of the global economy, contributing a staggering $455 billion to our national GDP last year alone.
Key Takeaways
- In the financial year 2022-23, Western Australia's iron ore production reached 885 million tonnes, accounting for 96% of Australia's total iron ore output.
- Australia produced 314 tonnes of gold in 2023, with Western Australia contributing 68% of the national total at 213 tonnes.
- Black coal production in Australia for 2022-23 was 453 million tonnes, primarily from New South Wales and Queensland.
- In 2022-23, Australia's mining industry contributed $455 billion to GDP, representing 10.3% of national GDP.
- Mining exports generated $455 billion in revenue in 2022-23, accounting for 66% of total goods exports.
- The industry paid $79 billion in company taxes and royalties in 2022-23.
- The industry employed 272,000 people directly in June 2023.
- FIFO workers comprised 35% of the mining workforce in 2023.
- Average weekly earnings in mining were $3,052 in 2023, highest of all industries.
- Australia exported 898 million tonnes of iron ore in 2022-23, valued at $136 billion.
- Thermal coal exports totaled 204 million tonnes in 2022-23, worth $49 billion.
- Gold exports reached 314 tonnes valued at $25 billion in 2023.
- The mining fatality rate was 1.9 per 100 million hours worked in 2022-23.
- Total recordable injury frequency rate (TRIFR) for mining was 5.2 per million hours in 2023.
- 5 fatalities occurred in underground coal mining in 2023.
Australia's vast mining industry provides massive economic value from numerous critical minerals.
Economic Contribution
- In 2022-23, Australia's mining industry contributed $455 billion to GDP, representing 10.3% of national GDP.
- Mining exports generated $455 billion in revenue in 2022-23, accounting for 66% of total goods exports.
- The industry paid $79 billion in company taxes and royalties in 2022-23.
- Iron ore exports alone contributed $136 billion to Australia's economy in 2022-23.
- Coal mining added $55 billion to GDP in 2022-23.
- LNG exports reached $70 billion in value during 2022-23.
- Gold mining contributed $28 billion to GDP in 2023.
- The sector supported 272,000 direct jobs in 2022-23, with total employment impact of 1.1 million.
- Mining royalties to states totaled $22 billion in 2022-23, with WA receiving $11.8 billion.
- Capital expenditure in mining was $58 billion in 2022-23.
- The industry's value added grew by 7.5% in 2022-23.
- BHP Billiton's Australian operations generated $25 billion in revenue in FY2023.
- Rio Tinto's iron ore division contributed $23.5 billion EBITDA in 2023.
- Fortescue Metals Group produced 192 million tonnes of iron ore, generating $16.2 billion revenue in FY2023.
- Alumina refining sector added $12 billion to economy in 2022-23.
- Critical minerals mining attracted $5.2 billion in investment in 2023.
- WA mining GDP contribution was 51% of state GDP in 2022-23.
- Queensland mining exports valued at $100 billion in 2022-23.
- Mining supported 7.7% of national employment in 2023.
Economic Contribution Interpretation
While we may debate its future, Australia's present economy is essentially held aloft by a titanic, iron-laced pillar of mining wealth, which single-handedly funds a nation's dreams yet remains precariously rooted in the very ground we're digging up.
Employment and Workforce
- The industry employed 272,000 people directly in June 2023.
- FIFO workers comprised 35% of the mining workforce in 2023.
- Average weekly earnings in mining were $3,052 in 2023, highest of all industries.
- Western Australia hosted 111,000 mining jobs in 2023.
- 18% of mining workforce were women in 2023, up from 15% in 2018.
- Indigenous employment in mining reached 5% of workforce in 2023.
- Engineering professionals made up 12% of mining occupations in 2023.
- Labour turnover rate in mining was 12.5% in 2022-23.
- Apprentices and trainees numbered 12,000 in mining in 2023.
- 25% of mining jobs required vocational qualifications in 2023.
- Queensland mining employed 52,000 people in 2023.
- NSW mining workforce was 28,000 in 2023.
- Over 40,000 contractors supported mining operations in 2023.
- Mining training investment was $1.2 billion in 2022-23.
- 65% of mining workers were full-time in 2023.
- Age group 25-34 comprised 30% of mining workforce in 2023.
- Safety training certifications issued: 150,000 in 2023.
Employment and Workforce Interpretation
While mining's golden paychecks lure a young, predominantly male, and transient army of fly-in-fly-out workers, the industry's serious investments in training, safety, and slowly diversifying its ranks reveal a sector grappling with its future beyond just the boom.
Exports and Trade
- Australia exported 898 million tonnes of iron ore in 2022-23, valued at $136 billion.
- Thermal coal exports totaled 204 million tonnes in 2022-23, worth $49 billion.
- Gold exports reached 314 tonnes valued at $25 billion in 2023.
- LNG exports were 81 million tonnes, generating $70 billion in 2022-23.
- Bauxite exports stood at 90 million tonnes in 2023.
- Alumina exports were 16.5 million tonnes valued at $9 billion in 2022-23.
- Copper exports totaled 800,000 tonnes in 2023.
- China received 82% of Australia's iron ore exports in 2023.
- Japan imported 20% of Australia's LNG in 2022-23.
- India was the top destination for coking coal, taking 45 million tonnes in 2023.
- Lithium exports surged to $15 billion in 2023.
- Refined nickel exports were 150,000 tonnes in 2022-23.
- Zinc exports reached 1.1 million tonnes in 2023.
- Lead exports totaled 300,000 tonnes valued at $2.5 billion in 2022-23.
- Rare earth exports were 15,000 tonnes in 2023, mainly to Malaysia processing.
- Manganese ore exports: 13 million tonnes to China in 2023.
Exports and Trade Interpretation
Australia’s economy still runs on digging things up and shipping them out, with an iron-clad reliance on China for its most valuable exports while the world still craves its coal and gas.
Production Statistics
- In the financial year 2022-23, Western Australia's iron ore production reached 885 million tonnes, accounting for 96% of Australia's total iron ore output.
- Australia produced 314 tonnes of gold in 2023, with Western Australia contributing 68% of the national total at 213 tonnes.
- Black coal production in Australia for 2022-23 was 453 million tonnes, primarily from New South Wales and Queensland.
- In 2023, Australia's bauxite production totaled 102 million tonnes, led by Western Australia at 98 million tonnes.
- Lithium production in Australia surged to 88,000 tonnes of lithium oxide equivalent in 2023, representing 47% of global supply.
- Copper production reached 844,000 tonnes in 2022-23, with South Australia and Queensland as key contributors.
- Nickel concentrate production was 344,000 tonnes in 2023, mainly from Western Australia.
- Zinc production stood at 1.2 million tonnes of contained zinc in 2022-23.
- Rare earth oxide production was 18,000 tonnes in 2023, with Lynas Rare Earths as the dominant producer.
- Alumina production reached 25.6 million tonnes in 2022-23, with Queensland producing 54% of the total.
- Brown coal production was 52 million tonnes in 2022-23, almost entirely from Victoria.
- Uranium oxide production totaled 6,697 tonnes in 2023, from four operating mines.
- Manganese ore production was 7.5 million tonnes in 2022-23, primarily from Groote Eylandt.
- Ilmenite production reached 1.1 million tonnes in 2023, with Western Australia leading.
- Diamond production was 12.5 million carats in 2022-23, from Argyle mine closure impacts.
- Silver production totaled 1,300 tonnes in 2023, byproduct of lead-zinc mining.
- Cobalt production was 5,900 tonnes in 2023, mainly from nickel operations.
- Antimony production reached 4,200 tonnes in 2022-23.
- Vanadium pentoxide production was 1,000 tonnes in 2023 from new projects.
- Phosphate rock production stood at 2.8 million tonnes in 2022-23.
Production Statistics Interpretation
Western Australia is practically carrying the country's mining industry on its back, while the rest of Australia chips in with everything else, making it clear we're not just a one-trick-pony continent but a geological powerhouse with an absurdly full trophy cabinet.
Safety and Environment
- The mining fatality rate was 1.9 per 100 million hours worked in 2022-23.
- Total recordable injury frequency rate (TRIFR) for mining was 5.2 per million hours in 2023.
- 5 fatalities occurred in underground coal mining in 2023.
- Rehabilitation of 45,000 hectares of mine sites completed in 2022-23.
- Mining industry reduced Scope 1 and 2 emissions by 22% from 2005 levels by 2023.
- Water usage in mining was 1,200 gigalitres in 2022-23, with 85% recycled.
- Dust exposure incidents: 1,200 reported in 2023.
- 95% of mines had biodiversity management plans in 2023.
- Tailings dam audits: 100% compliance in 2023.
- Noise-induced hearing loss claims decreased 15% to 250 in 2023.
- Land disturbance from mining: 70,000 hectares active in 2023.
- Renewable energy use in mining operations: 15% of total energy in 2023.
- Lost time injury frequency rate (LTIFR) was 0.9 per million hours in 2023.
- Closure bonds held: $5.6 billion for mine rehabilitation in 2023.
- Greenhouse gas emissions from mining: 80 million tonnes CO2-e in 2023.
Safety and Environment Interpretation
While Australia's mining industry seems determined to prove it's possible to run both a profitable and perilous planet-marring operation—judging by its sobering tally of fatalities and vast disturbed land—it’s also banking billions and recycling furiously to ensure that, when the last hole is dug, there’s a plan to stitch the earth back together.
Sources & References
- Reference 1GAga.gov.auVisit source
- Reference 2INDUSTRYindustry.gov.auVisit source
- Reference 3MINERALSCOUNCILmineralscouncil.com.auVisit source
- Reference 4DFATdfat.gov.auVisit source
- Reference 5ABSabs.gov.auVisit source
- Reference 6ABCabc.net.auVisit source
- Reference 7BHPbhp.comVisit source
- Reference 8RIOTINTOriotinto.comVisit source
- Reference 9FMGLfmgl.com.auVisit source
- Reference 10WAwa.gov.auVisit source
- Reference 11BUSINESSbusiness.qld.gov.auVisit source
- Reference 12RESOURCESresources.nsw.gov.auVisit source
- Reference 13SAFEWORKAUSTRALIAsafeworkaustralia.gov.auVisit source
- Reference 14RESOURCESAFETYresourcesafety.nsw.gov.auVisit source
- Reference 15CLEANENERGYREGULATORcleanenergyregulator.gov.auVisit source