Mining in Australia
Mining in Australia encompasses the extraction of a diverse array of mineral commodities and fossil fuels from vast deposits across the continent, establishing the nation as one of the world's premier mining jurisdictions. The sector leverages Australia's geological endowment, including the world's largest economically demonstrated reserves of iron ore, bauxite, lithium, and lead-zinc, to produce key outputs such as iron ore, black coal, gold, nickel, and rare earth elements.[1][2] Concentrated primarily in Western Australia, which hosts over 90% of iron ore production, and Queensland, a hub for coal and base metals, the industry generated export revenues approaching $417 billion for resources and energy in 2023-24, underpinning roughly 13% of gross domestic product through high-value shipments dominated by iron ore (over 50%), coal, and gold.[3][4] It directly employs approximately 235,000 workers in roles offering wages 50% above the national average, while procuring billions in goods and services from domestic suppliers, though operations have drawn scrutiny for environmental disturbances and resource depletion amid stringent regulatory frameworks.[5][6] Historically propelled by 19th-century gold rushes that spurred settlement and infrastructure, modern mining has evolved into a technologically advanced pursuit, with Australia ranking in the global top five for production of 14 commodities including bauxite, cobalt, manganese, and uranium, fostering innovations in automation and sustainable practices despite ongoing debates over land use and export dependencies on volatile international markets.[7][8]Historical Development
Pre-Colonial and Early Colonial Extraction
Prior to European colonization, Indigenous Australians extracted mineral resources primarily for cultural, ceremonial, and practical purposes, with ochre and hematite being key materials used in pigments for body adornment, rock art, and tools. Archaeological evidence indicates ochre use dating back at least 53,000–59,000 years, with sourcing from natural outcrops and small-scale quarries across the continent, including sites in the Sydney Basin and central Australia.[9][10] Hematite, valued for its red pigment properties, was similarly collected and processed through grinding and mixing, often traded along established networks spanning hundreds of kilometers, as traced through chemical analysis of artifacts.[11] These activities involved manual quarrying with stone tools, yielding quantities sufficient for local and exchange needs but limited by the absence of metal implements or advanced smelting, resulting in no evidence of deep-shaft mining or large-volume extraction.[12] Such pre-colonial practices reflected adaptation to surface-accessible deposits, prioritizing portability and utility over bulk production, with ochre mines like those in Warlpiri territory serving ritual and economic roles within kinship-based systems.[12] Geological constraints, including the continent's ancient, weathered terrains rich in iron oxides but poor in easily smeltable ores without high-heat technology, further restricted operations to opportunistic gathering rather than systematic exploitation.[13] Following British settlement in 1788, early European extraction focused on coal to meet immediate colonial demands for fuel in lime-burning, brick-making, and ship powering, with seams first noted near the Hunter River (later Newcastle, termed Coal River) in the 1790s by explorers like Governor Arthur Phillip.[14] Convict labor initiated small-scale open-cut and adit mining at Newcastle from 1801, under government oversight, producing modest tonnages—estimated at under 1,000 tons annually in the initial decade—for local use and limited barter with passing ships, hampered by rudimentary hand tools and transportation via shallow-draft vessels.[15] These efforts, confined to outcrops proximate to Sydney (about 160 km north), yielded low efficiency due to flooding, poor ventilation, and lack of mechanization, serving subsistence colonial needs rather than commercial export until the 1820s. Copper emerged as another early target in the 1840s, driven by South Australia's fiscal pressures post-1836 founding, with the Burra deposit discovered in September 1845 by shepherd William Streair near Burra Creek, revealing malachite and azurite outcrops.[16] Initial extraction began in late 1845 using picks and wheelbarrows by squatters, transitioning to organized mining by the South Australian Mining Association in 1846–1847, which shipped ore to Swansea, Wales, for smelting and generated early dividends from high-grade surface material.[17] Output remained small-scale—peaking at a few thousand tons of ore by 1847—constrained by ox-wagon haulage over 150 km to Port Wakefield, basic hand-labor methods, and assay uncertainties, reflecting causal dependencies on pastoral expansion revealing deposits rather than systematic prospecting.[18] These ventures underscored colonial priorities for self-sufficiency and revenue, with minimal infrastructure delaying viability until private capital and basic assaying enabled persistence.[19]19th-Century Gold Rushes and Mineral Booms
The Australian gold rushes began in earnest in 1851 with discoveries in New South Wales and Victoria, triggering rapid economic expansion. In Victoria, official gold production commenced following Edward Hargraves' announcement on February 12, 1851, leading to peak annual outputs exceeding three million ounces by 1856.[20] This surge, driven initially by alluvial deposits amenable to panning and sluicing, attracted over 500,000 immigrants by the early 1860s, quadrupling the colonies' population from approximately 430,000 in 1851 to 1.7 million by 1861.[21] Gold exports boosted colonial revenues, with Victoria alone yielding around 27 million ounces between 1851 and 1862, equivalent to substantial portions of global supply at the time.[22] As surface alluvial gold diminished, miners transitioned to reef mining, involving quartz crushing and chemical extraction, which sustained yields from deeper lodes but required capital-intensive stamping batteries and cyanide processes by the late 1850s. Government assays verified reef ores' viability, with sites like Bendigo producing consistent outputs post-alluvial depletion.[23] This shift marked a move from individual prospecting to company operations, though initial alluvial booms yielded higher short-term returns per laborer compared to labor-intensive reef methods.[24] In Western Australia, gold discoveries in the Kimberley region at Hall's Creek in 1885 initiated minor rushes, but the 1890s Eastern Goldfields boom—sparked by finds at Coolgardie in 1892 and Kalgoorlie in 1893—drove production from 22,806 ounces in 1890 to over 1.6 million ounces by 1900.[25] These events, extending to Pilbara creeks around 1887, further diversified mineral exploration, though gold dominated.[26] The rushes spurred GDP growth via exports but induced Dutch disease effects, appreciating local currencies and inflating wages, which strained non-mining sectors like wool and nascent manufacturing by diverting labor and capital.[27] Empirical records show wool exports stagnating amid gold's dominance, as resource inflows crowded out tradable industries without compensatory diversification until later.[28] Late-century booms in base metals, such as copper at Kapunda (1842, peaking 1860s) and silver-lead at Broken Hill (1883), complemented gold but were secondary in transformative impact.[27]20th-Century Industrialization and Federations Impacts
The federation of Australia in 1901 established an internal free trade area among the former colonies, eliminating interstate tariffs and enabling the unimpeded flow of mining resources across state borders, which supported the consolidation and scaling of operations like those at Broken Hill.[29] This policy shift facilitated the transport of lead-zinc-silver ores from New South Wales to coastal ports and processing facilities, reducing colonial-era barriers that had previously hindered integrated supply chains.[30] At Broken Hill, where significant deposits were identified in 1883, the Broken Hill Proprietary Company (BHP), formed in 1885, exemplified 20th-century industrialization through technological advancements in ore extraction and smelting, including zinc recovery processes introduced in the early 1900s that boosted output from surface and underground operations.[31] BHP's expansion into steel production underscored federation's role in resource-driven industrialization, with the Newcastle Steelworks commencing operations in March 1915 as Australia's first large-scale integrated facility, relying on local Hunter Valley coal and ironstone supplemented by Broken Hill concentrates.[32] This development met rising domestic demands for steel rails and infrastructure, while coal production in New South Wales expanded in the early 20th century to supply the furnaces, with output increasing to support both steelmaking and urban gas needs.[33] Wartime imperatives during World War I further accelerated steel output at Newcastle, where the works produced munitions and ship materials, tying mining growth to national security policies.[34] World War II intensified prospecting for strategic minerals, including uranium, with confidential surveys at Radium Hill in 1944 confirming viable lodes amid Allied atomic research efforts, though commercial mining there began only in 1954 under government oversight.[35] Post-war reconstruction policies culminated in the lifting of the long-standing iron ore export embargo in 1960, when the first license was issued on December 1, allowing shipments from Western Australia and initiating large-scale exports that fueled industrial recovery.[36] This embargo, imposed in the 1930s due to perceived domestic shortages, had previously restricted overseas sales to prioritize local steelmaking, but its relaxation aligned with evidence of abundant reserves and global demand.[37]Post-2000 Commodity Supercycle and Recent Expansions
The post-2000 commodity supercycle, spanning approximately 2003 to 2012, was primarily driven by China's rapid industrialization and infrastructure expansion, which amplified global demand for raw materials and propelled Australia's mining sector. Iron ore prices, a cornerstone of Australian exports, escalated from $10–15 per tonne in 2002–2003 to peaks of $158 per tonne by September 2011, representing a multiplication exceeding tenfold from pre-boom levels. This price surge was underpinned by China's steel production needs, with Australian iron ore exports forming a critical supply link. Concurrently, the value of Australian metal ores and minerals exports expanded from $15.7 billion in 2001 to $88 billion in 2011, reflecting average annual growth of 20.7 percent, while total resources and energy exports reached A$190 billion (approximately US$200 billion) in 2011. Iron ore constituted about 31 percent of mineral and metal export value that year, underscoring its dominance.[38][39][40][41][42] These dynamics generated substantial economic spillovers, challenging assertions of a universal "resource curse" in Australia's context, where empirical evidence highlights positive multiplier effects rather than Dutch disease symptoms. The mining boom contributed to GDP growth averaging over 3 percent annually in the late 2000s, with resource exports rising to 57 percent of total exports by 2011. Local job multipliers for mining activities have been estimated at 1.5 to 2 additional jobs per direct mining position, extending to supply chains, services, and construction, while national analyses indicate broader induced employment effects amplifying total impacts to 3–5 times direct mining jobs. Such linkages fostered regional development in mining hubs like Western Australia's Pilbara, without the volatility-induced stagnation observed in some resource-dependent economies, as Australia's diversified institutional framework and fiscal policies mitigated potential negatives.[43][44][45][46] In the 2020s, Australia has shifted emphasis toward critical minerals extraction, aligning with global energy transition imperatives and diversifying from traditional bulk commodities. Production of lithium, essential for batteries, has scaled significantly, exemplified by the Greenbushes mine in Western Australia, which achieved production guidance of 1.4–1.5 million tonnes per annum of spodumene concentrate in fiscal year 2024 before adjustments for market conditions. Government initiatives, including the Critical Minerals Strategy 2023–2030, have supported this pivot through investments like A$566.1 million over 10 years from 2024–25 for industry tools and data. Medium-term projections anticipate strong growth in lithium and copper output, bolstering Australia's role in supply chains less vulnerable to single-market dependence than the China-centric supercycle era.[47][48][49]Geological Foundations and Resource Mapping
Tectonic and Geological Context
Australia's geological foundation for mineral resources stems from its location on the stable Indo-Australian Plate, dominated by extensive Archean and Proterozoic cratons that have experienced minimal tectonic disruption since their formation over 2.5 billion years ago. These cratons, including the Pilbara and Yilgarn in Western Australia, represent some of the Earth's oldest continental lithosphere, with rocks dating back to 3.6 billion years in the Pilbara. The thick, refractory lithospheric keel beneath these structures—often exceeding 200 km—imparts resistance to deformation, enabling the long-term preservation of primary mineral deposits that would otherwise be eroded or metamorphosed in tectonically active regions.[50][51][52] The Pilbara Craton hosts Paleoproterozoic banded iron formations (BIFs), chemical sediments precipitated in ancient oceans around 2.5 to 1.8 billion years ago during periods of elevated atmospheric oxygen, which now form the basis for high-grade hematite-goethite ores after supergene enrichment under stable conditions. Western Australia, encompassing these cratons, accounts for over 99% of Australia's iron ore production and holds approximately 30% of global economic reserves, underscoring the role of cratonic stability in concentrating vast, accessible resources. In the Yilgarn Craton, Archean greenstone belts—volcanic-sedimentary sequences intruded by granites—preserve orogenic gold deposits formed via fluid migration in compressional settings around 2.7 to 2.6 billion years ago, with minimal post-formation alteration due to the absence of subsequent major orogenies.[53][54][55] Gondwanan sedimentary basins, developed along Australia's eastern and northern margins during the Paleozoic-Mesozoic assembly of the supercontinent, contain Permian-Triassic coal measures deposited in extensive peat mires and fluvial-deltaic systems under humid, subsiding conditions. These basins, such as the Bowen and Sydney, preserved thick bituminous and sub-bituminous coal seams due to burial in tectonically quiescent foreland settings post-rifting. Bauxite resources, conversely, arise from Cenozoic lateritic weathering profiles on exposed cratonic surfaces, where prolonged exposure under tropical climates leached silica to enrich aluminum hydroxides, a process facilitated by the lack of tectonic uplift or incision that would disperse such regoliths elsewhere. This interplay of ancient stability and episodic sedimentation causally explains Australia's endowment in both metallic and energy minerals.[56][57]Principal Mining Districts and Deposits
The Pilbara Craton in Western Australia encompasses the nation's primary iron ore districts, contributing over 97% of Australia's iron ore output through deposits in the Hamersley Province.[3] Major operations include Rio Tinto's Mt Tom Price and Paraburdoo mines, supported by extensive rail and port infrastructure facilitating export.[53] The region's high-grade hematite ores underpin Australia's position as the leading global producer, with estimated national reserves exceeding 50 billion tonnes concentrated predominantly here.[58] In Queensland, the Bowen Basin stands as the core black coal district, producing approximately 210 million tonnes annually and representing the principal source of the state's output, which constitutes over half of Australia's black coal.[59] Key deposits lie within Permian formations, accessible via established rail links to ports like Gladstone.[60] Further north-west, the Mount Isa Inlier hosts world-class sediment-hosted lead-zinc-silver and copper deposits, including the Mount Isa and George Fisher orebodies, which rank among the largest global accumulations of these metals.[61] South Australia's Gawler Craton features the Olympic Dam deposit, a poly-metallic breccia complex holding the world's largest uranium reserves at over 2.5 million tonnes alongside 10.68 million tonnes of copper.[62] [63] In New South Wales, the Broken Hill district in the Curnamona Province contains the richest known lead-zinc-silver lode, with historical production exceeding 300 million tonnes of ore.[64] The Northern Territory's McArthur Basin includes the McArthur River zinc-lead deposit, one of the largest undeveloped reserves globally, with ongoing expansions approved for increased open-pit operations despite regulatory challenges.[65] [66] Rare earth elements are emerging in the Arunta Region, notably at the Nolans Bore project, a fully permitted deposit targeting neodymium-praseodymium production backed by substantial global investment.[67]Core Commodities and Extraction Methods
Iron Ore, Bauxite, and Base Metals
Australia's iron ore sector is dominated by large-scale open-pit operations in the Pilbara region of Western Australia, where hematite-rich ores are extracted from ancient banded iron formations using electric rope shovels, hydraulic excavators, and haul trucks, often with autonomous systems for improved productivity and safety. Ore is crushed, screened, and sometimes beneficiated to produce lump and fines for export, with processing tailored to maintain high-grade Pilbara Blend specifications averaging 62% Fe content. In 2024, national production surpassed 900 million metric tons, almost entirely from Western Australia, underscoring the region's role as the global benchmark for low-cost, high-volume extraction.[68][69][70] Bauxite mining in Australia employs open-cut techniques suited to shallow, friable deposits, primarily using front-end loaders or excavators to feed haul trucks, followed by crushing and washing to remove clay impurities prior to stockpiling and shipment. Operations are concentrated in northern Queensland at Rio Tinto's Weipa mine, which produces over 30 million tonnes annually from multiple pits, and in Western Australia's Darling Range, though Queensland accounts for a growing share amid expansions like the Amrun deposit. National output reached 100.2 million tonnes in 2024, with 42.6 million tonnes exported, reflecting bauxite's role as a bulk commodity for alumina refining.[71][72][73] Base metals production centers on copper and nickel, with poly-metallic deposits like BHP's Olympic Dam in South Australia exemplifying integrated underground block caving methods that yield copper concentrates from a low-grade orebody averaging 1.6-2% Cu, supplemented by flotation to recover associated silver and gold. Copper output totaled 800,000 metric tons in 2024, with Olympic Dam contributing substantially through recent expansions enhancing smelter capacity and cathode production. Nickel extraction, primarily from lateritic saprolite in Western Australia via high-pressure acid leaching or smelting, faces constraints but sustains operations at sites like BHP's Nickel West, emphasizing hydrometallurgical efficiency for mixed hydroxide precipitate.[74][75][76]Precious Metals and Uranium
Australia ranks as the second-largest gold producer globally, with mine output of approximately 284 tonnes in recent years, accounting for about 9-10% of world production.[77][78] The country's gold resources are the largest worldwide, supporting long-term extraction viability despite often low ore grades, where economic returns derive from vast deposit scales and advanced processing technologies. Key operations include the Kalgoorlie Super Pit in Western Australia, an open-cut mine yielding around 800,000 ounces (approximately 25 tonnes) annually, operated by Northern Star Resources.[79][80] Silver production in Australia totals about 1,000 metric tons per year, primarily as a byproduct of lead-zinc, copper, and gold mining, positioning the nation as a mid-tier global producer around 4% of supply.[81][82] However, Australia holds the world's largest economically recoverable silver resources, exceeding those of Mexico, Canada, and the United States combined, which underpins potential for expanded output from deposits like Cannington in Queensland.[83] Uranium mining contributes significantly to Australia's mineral profile, with the country ranking fourth globally in 2023 production at 4,686 tonnes of uranium (tU), representing 9% of worldwide output from mines concentrated in low-grade but enormous deposits amenable to large-scale in-situ leaching and underground methods.[84] The Olympic Dam mine in South Australia, the world's largest uranium resource, produces uranium alongside copper, gold, and silver, with historical annual output contributing substantially to national totals though constrained by multi-commodity priorities.[62][85] Australia possesses 28% of identified global uranium resources, yet production remains below reserve potential due to state-level restrictions in regions like Western Australia, where policy reviews in the mid-2020s signal possible future expansions amid rising international demand.[86][87]Energy Resources: Coal and Natural Gas
Australia's coal production reached an estimated 550 million tonnes in 2024, reflecting a 2.8% increase from the previous year, with the majority consisting of black coal split between thermal and metallurgical varieties.[88] Production is concentrated in Queensland, accounting for 56% of output primarily from the Bowen Basin, and New South Wales, contributing 43% from the Hunter Valley and other Sydney Basin areas.[59] Metallurgical coal, essential for steelmaking coke production, saw export projections for fiscal year 2024-25 raised to 163 million tonnes, driven by favorable weather and sustained Asian demand.[89] Open-cut mining dominates thermal coal extraction in shallower deposits, such as those in Queensland's Surat and Callide Basins, utilizing dragline and truck-shovel operations for efficiency.[90] In contrast, longwall underground mining prevails for deeper metallurgical seams in the Bowen and Sydney Basins, employing mechanized shearers and hydraulic supports to achieve high recovery rates, with operations producing up to 10 million tonnes annually per face in Queensland.[91] These methods have sustained output stability into 2025, countering premature decline assessments through consistent basin development and export-oriented scaling.[88] Metallurgical coal exports to Asia, particularly India and resuming volumes to China, underscore ongoing demand for coking coal in steel production, with 2024 shipments to India alone reaching 37.5 million tonnes amid competitive global sourcing.[92] Natural gas extraction in Australia centers on offshore fields feeding liquefied natural gas (LNG) projects, with the North West Shelf in Western Australia serving as the foundational hub since its inception, boasting a capacity of 16.9 million tonnes per annum. Total LNG exports stood at 80.7 million tonnes in 2023, maintaining high levels into 2024 from facilities across Western Australia and Queensland, supported by long-term contracts and infrastructure like the North West Shelf's 35-year operational history.[93][94] Production methods involve subsea wells and floating or onshore liquefaction trains, ensuring reliable supply chains for export markets despite volume fluctuations.[95]Emerging Critical Minerals: Lithium, Rare Earths, and Others
Australia's lithium production is dominated by hard-rock spodumene mining, particularly at the Greenbushes operation in Western Australia, which is the world's largest such deposit and features four processing plants producing chemical-grade concentrates.[96] Operations there yielded 340,000 tonnes of spodumene concentrate in the first quarter of fiscal year 2025, contributing to annual capacities exceeding 1.5 million tonnes.[97] Brine extraction supplements this in South Australia, though hard-rock methods accounted for the majority of output as of 2024, with Australia holding about two-thirds of global ore-based lithium production.[98] In 2024, the country produced roughly 46 percent of the world's lithium, maintaining near-50 percent of global supply capacity amid expansions.[99][100] Forecasts project Australian lithium exports at approximately 398 kilotonnes of lithium carbonate equivalent (LCE) in 2025, driven by increased mine output projected to rise 18 percent among ASX-listed producers.[101][102] Rare earth elements (REEs) production centers on the Mount Weld mine in Western Australia, operated by Lynas Rare Earths, which supplies high-value neodymium-praseodymium (NdPr) oxides essential for magnets in electric vehicles and wind turbines.[103] A resource update on August 5, 2024, reported a 92 percent increase in mineral resources and 63 percent in ore reserves, supporting long-term output growth.[103] Lynas achieved a production milestone in May 2025 by commercially separating heavy REEs outside China, following expansions including a Kalgoorlie processing facility opened in November 2024 and plans for further capacity to 12,000 tonnes per annum of NdPr.[104][105] Full-year 2025 results showed revenue of $556.5 million, bolstered by higher NdPr volumes despite market pressures.[106] Other emerging critical minerals include graphite and cobalt, with Australia identifying deposits but lower production scales compared to lithium and REEs; cobalt primarily emerges as a byproduct from nickel operations rather than dedicated mines.[107] Graphite projects, such as those in Queensland, remain in development phases, with 13 of 32 critical mineral initiatives targeting supply for battery anodes and other uses by the late 2020s.[108] Sector expansion since 2022 has been fueled by surging demand for lithium-ion batteries in electric vehicles and energy storage, alongside the Australian Government's Critical Minerals Strategy 2023–2030, which allocates funding for processing and exploration to enhance domestic value chains.[49] Key incentives include the Critical Minerals Production Tax Incentive, enacted in 2025 to provide a 10 percent refundable offset on eligible processing costs for listed minerals.[109]Production Metrics and Industry Scale
Annual Output and Reserve Estimates
In 2023, Australia produced 953 million tonnes of iron ore, maintaining its position as the world's largest producer with approximately 38% of global output.[2] Ore Reserves for iron ore stood at 26,382 million tonnes, supported by extensive economic demonstrated resources (EDR) of 58,622 million tonnes.[2] Bauxite output reached 103.8 million tonnes, or 26% of world production, with Ore Reserves estimated at 1,725 million tonnes and EDR at 3,714 million tonnes.[2] Gold production totaled 296 tonnes in 2023, equating to about 10% of global supply, backed by Ore Reserves of 4,486 tonnes and EDR of 12,676 tonnes.[2] Black coal production was 428 million tonnes, representing roughly 6% of worldwide output, with Ore Reserves at 13,912 million tonnes and EDR at 72,487 million tonnes.[2] Lithium production hit 95 thousand tonnes of lithium carbonate equivalent (LCE), capturing around 50% of global production, with Ore Reserves of 5,051 thousand tonnes LCE and EDR of 8,440 thousand tonnes LCE.[2]| Commodity | 2023 Production | Ore Reserves (2023) | Global Production Share |
|---|---|---|---|
| Iron Ore | 953 Mt | 26,382 Mt | 38% |
| Bauxite | 103.8 Mt | 1,725 Mt | 26% |
| Gold | 296 t | 4,486 t | 10% |
| Black Coal | 428 Mt | 13,912 Mt | 6% |
| Lithium | 95 kt LCE | 5,051 kt LCE | 50% |
Export Volumes and Global Market Share
Australia's mining sector dominates its merchandise exports, with minerals and energy commodities comprising approximately 70% of total goods exports in the 2023-24 financial year, valued at over A$400 billion.[113] This export reliance intensified following the early 2000s commodity boom, driven by surging global demand—particularly from China—which elevated Australia's terms of trade by over 50% from 2000 to 2011, according to Department of Foreign Affairs and Trade analyses.[114] Iron ore, coal, liquefied natural gas (LNG), and gold constituted the bulk of these shipments, underscoring Australia's position as a primary supplier in global resource markets.[115] Iron ore exports led with volumes reaching 893 million tonnes in 2023, accounting for more than 54% of global seaborne trade and over 50% by value, positioning Australia as the world's preeminent exporter.[116] Approximately 80% of this output was directed to China, reflecting the country's heavy dependence on Australian supply for steel production.[117] In value terms, iron ore generated A$137.9 billion in 2023-24, far exceeding other commodities.[118] LNG exports totaled 81 million tonnes in 2024, securing Australia's rank as the second-largest global exporter with a 19.7% market share, trailing only the United States.[119] Valued at A$68.7 billion in 2023-24, these shipments primarily served Asian markets, including China (33%), Japan (32%), and South Korea (15%).[120] Coal followed closely, with Australia holding a 26% share of world exports in recent years, exporting around 360 million tonnes annually as the second-largest supplier after Indonesia.[59] These volumes, valued at A$91.4 billion in 2023-24, sustained demand in Japan, India, and Southeast Asia despite shifting global energy transitions.[118][121] Gold exports contributed A$25.9 billion in 2023, with volumes approximating domestic production of over 300 tonnes, maintaining Australia's status among the top five global producers and exporters.[122] While not commanding the largest shares, these precious metal outflows diversified export risks amid fluctuations in bulk commodities.[79]| Commodity | 2023 Export Volume | Global Market Share | Primary Destination |
|---|---|---|---|
| Iron Ore | 893 Mt | ~54% (seaborne) | China (~80%) |
| LNG | 81 Mt | 19.7% | Japan, China |
| Coal | ~360 Mt | 26% | Japan, India |
| Gold | ~300 t | Top 5 exporter | China, Hong Kong |