PERTH (miningweekly.com) – Australia’s exports of mineral commodities into the Asian region has significant growth potential, new research by the Minerals Council of Australia (MCA) has found.

“As Asia’s economies grow, they will increase investment in infrastructure and resources-intensive production activities, creating additional demand for Australian resources,” MCA CEO Tania Constable said this week.

Drawing together the several insights and experiences of Australia’s mining and mining equipment, technology and services (METS) companies operating in the Association of Southeast Asian Nations (ASEAN), a new report by the MCA highlights Australia’s vital interest in keeping international trade open and growing, and the role of the Australian government in leading by example.

“ASEAN imports of minerals and basic metals are growing rapidly. Over five years to 2018 its top ten mining and basic metal manufactures imports have doubled from A$50-billion to A$100-billion.

“ASEAN is a big market for gold, coal, copper, semi-finished products of iron and steel and aluminium as countries like Indonesia, Vietnam and Thailand experience rising incomes and continue to industrialise and this presents a massive opportunity for our mining industry,” Constable said.

She noted that Australia’s world leading mining and mining services sectors would play a critical role in the continuing growth of these emerging economies, supporting their growth and contributing to deeper economic, social and cultural ties to the benefit of everyone in our region.

“As these economies develop their own mining sectors, there will also be greater opportunities for METS exports and outward Australian mining investment. However, realising these opportunities will require tackling a raft of trade barriers and other policy impediments.”

Mining is already Australia’s biggest export industry, and Asia is Australia’s most important export market.

In 2019/20, the resources sector earned A$283-billion of export revenue, some 60% of Australia’s total export revenue, and mining was Australia’s largest industry with a 10.4% share of the economy.