The Mineral Industry of Australia in 1997
THE MINERAL INDUSTRY OF AUSTRALIA By Travis Q. Lyday Australia is estimated to be the third largest producer of minerals owned by the Government, about 36% of Australia, and then only if and metals, excluding coal and petroleum, in the world, and its they had maintained a continuing association with the land being minerals industry is a leading catalyst in promoting the growth of the claimed. The Wik ruling threw the issue into confusion because it economy. The country’s gross domestic product (GDP) in fiscal year allowed the possibility of native title extending to land held under 1996-97 (July-June) was A$491.3 billion (about $359 billion). The lease, thus increasing the proportion of land open to possible native minerals industry represented $23.3 billion, or 6.5% of the title claim to about 78% of the country (Mining Journal, 1997c). Australian economy (Minerals Council of Australia, 1998, Current economic impacts in Australia, accessed July 7, 1998, on the World Environmental Issues Wide Web at URL http://www.minmet.uq.au/ugrad/courses/5e103/ aspin/notes18.html). The real GDP growth rate for 1997 was 2.9% In October, the Government set its goal to contain greenhouse gas (U.S. Energy Information Agency, May 1998, Australia, accessed emissions at an 18% increase from the 1990 levels by 2120 (instead May 21, 1998, on the World Wide Web at URL http://www.eia.doe. of the projected 28% increase without restraint). Included with the gov/emeu/cabs/australi.html). In 1997, Australia was the world’s $130 million that will be spent to achieve this goal was a leading producer of alumina, bauxite, chrysoprase, diamond, requirement that electricity retailers source an additional 2% of ilmenite, monazite, opal, rutile, sapphire, and zircon; second largest electricity from renewable sources by 2010 (UIC Newsletter, producer of lead and zinc; third largest producer of gold and iron ore; 1997a).
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