Today Australia is a leader in the global minerals industry. Increasing numbers of foreign investors are eager to invest in Australian iron ore, bauxite, coal, alumina, aluminum, nickel, copper, zinc, manganese, gold, and other minerals projects.
Mining and minerals activity contributes around 8 percent of Australia’s gross domestic product and produces nearly one-third of the country’s export revenue. The sector is expanding rapidly, driven primarily by China and India’s huge demand for raw materials. Since 1990, more than a dozen new world-class mineral deposits have been discovered, and significant finds are being made in areas mined for more than 100 years.
Australia has a Western-style capitalist economy on par with dominant European economies. Rising output, robust business and consumer confidence, and growing exports of raw materials and agricultural products fuel the economy. Australia’s emphasis on reforms, low inflation, and building ties with China also are propelling growth.
Australia is the world’s smallest continent, largest island, and sixth-largest country. At 7.7 million square kilometers (3 million square miles), it’s slightly smaller than the mainland United States and 50 percent larger than Europe.
While there’s water all around, Australia has proportionately more desert land than any other continent. A population of 20.3 million people is concentrated along the eastern and southeastern coasts.
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