The Mineral Industry of Australia in 2015
2015 Minerals Yearbook AUSTRALIA [ADVANCE RELEASE] U.S. Department of the Interior November 2018 U.S. Geological Survey The Mineral Industry of Australia By Spencer D. Buteyn During the past 10 years, Australia’s mineral industry fiscal year 2015, to 163,484 people from 177,670 (Department benefited from a significant boom in investment. This of Industry, Innovation, and Science, 2016a, p. 37; Australian investment was driven by increases in the prices of Australia’s Bureau of Statistics, 2017a, b). key mineral commodity exports—particularly coal and iron In calendar year 2015, the net inflow of foreign direct ore—owing largely to high demand in China, which was investment (FDI) in mining totaled AUD15.3 billion Australia’s largest export market. In the past few years, however, (US$11.4 billion), which was a 57% decrease from that of 2014. China’s slowing economic growth led to lower demand and Mining accounted from 51% of Australia’s total net inflow decreases in the prices of coal and iron ore, which negatively of FDI. The total net inflow of FDI to Australia from Japan affected Australia’s export revenue. In 2015, Australia’s mineral increased by 145% to AUD14.1 billion (US$10.5 billion) and sector continued the transition from an investment phase to accounted for 48% of Australia’s total, making Japan the leading a production phase. Investment in mining, which peaked in source of FDI to Australia. The United States accounted for 2013, decreased by 30% in fiscal year 2016.1 This decrease in the second largest share of Australia’s total net inflow of FDI, investment was attributed to decreased international demand accounting for 33%.
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