The Australian economy
The minerals resources industry is a key pillar of the Australian economy. The minerals resources industry accounts for more than 6 percent of Australia's economy and has invested more than $125 billion in Australia in the last 10 years.
The mining industry's contribution to the Australian economy is now $121 billion a year. In terms of export income, it generates $138 billion per annum, which represents over half (54 per cent) of total goods and services. Across the nation mining employs 187,400 people directly, and a further 599,680 in support industries. In wages and salaries that amounts to $18 billion; an additional $21 billion is contributed through company tax and royalty payments. Not least, the industry spends $35.2 billion on new capital investment, $5.7 billion on exploration, and $4.2 billion on research and development.5