Mineral exports buoy Australian economy
PERTH (miningweekly.com) – The Minerals Council of Australia (MCA) has welcomed the latest trade data for 2022, saying it highlighted the contribution of the resources sector to the Australian economy.
“With a record high of A$461-billion in 2022, up 31% from the previous record set in 2021, global demand for Australia’s resources continues to underpin economic activity,” said MCA CEO Tania Constable.
“This strong growth in revenue has also delivered Australia's largest trade surplus, A$136-billion recorded in financial year 2022, at a time when it needed it the most.”
Coal contributed A$141-billion in revenues, up 123%, while iron-ore contributed A$123-billion, gold A$23-billion, aluminium some A$15-billion, up 14%, and copper A$12-billion.
“The export result delivers benefits for all Australians through the significant tax and royalties the mining industry pays to federal, state and territory governments,” said Constable.
“In the last decade, mining companies have contributed A$143-billion in company tax, equivalent to five years’ spending on the National Disability Insurance Scheme, and A$112-billion of royalties, payments that help fund vital government services including mental health, aged care and childcare. They also pay for schools, hospitals and critical infrastructure.
“The industry continues to pay the highest average wages, the most company taxes and is critical to supporting regions and communities, supporting 1.1-million jobs in the mining industry and its supply chains.
“This contribution cannot be taken for granted and governments must ensure that policies work to maintain international competitiveness, and to enable Australia to secure our share of the additional $100-billion of global mining investment needed every year to achieve net zero emissions by 2050,” Constable said.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
