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AUSTRALIAN MINING INDUSTRY ASSIGNMENT OF GDP

   

Added on  2022-09-27

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AUSTRALIAN MINING
INDUSTRY

Importance Of The Industry
7% of Australian GDP is contributed by the mining industry
(Globaltenders.com, 2019)
40% of mining product is consumed domestically and 60% is
exported
Currently, above 1 lakh 30 thousand people work in mining
industry
Mining products worth $248 billion were exported in 2018
(Global Mining Review 2019)

Details Of Mining Industry
Iron ore, thermal coal and natural gas are the major product
of the industry
The industry grew from the time of gold rush in Australia
Rio Tinto and BHP Billiton are the dominant companies in the
industry
Few companies dominate the industry
It is an oligopoly in nature

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