Australian Mining Companies: Boom Goes the Gold Dynamite

Gold programs has been around since ancient times. Gold is a precious metal widely adorned and highly valued all over the world. In most civilizations gold was, and probably still is, an important part of their respective economies because it was, or still is, used as a form of currency in trading.Gold mining, as well as other industrial mining, has spread across the globe. From Africa to Alaska and India to Australia, the world is filled with riches waiting to be discovered and mined.

Australian mining companies began operations with the goal to improve the economy as well as harvest the gold lying in wait. Australia is blessed with rich gold mines and reserves – 40% of the world’s gold was produced in Australia in the mid 1850’s. Currently, Australian mining companies are expanding to other countries.

Minerals and resources mined by Australian mining companies include iron, nickel, bauxite, aluminum, copper, gold, silver, uranium, diamond, opal, zinc, coal, oil shale, petroleum, natural gas, and rare earths. Australian mining companies allow investment of stocks to those interested in providing financial “assistance” as well, which comes with monetary gain for the investor.

Mining inevitably impacts upon the environment. The Victorian gold rush in Australia resulted in substantial deforestation, consequent erosion and arsenic pollution. Uranium mines also add some controversies to the mining industry, not only because of the environmental impact, but also for its alleged use in nuclear power and nuclear weapons. However, Australian mining companies and the government ensure that no exported uranium will be used in nuclear weapons.

Australian mining companies not only provide high salary pay, but also first-world safety regulations, and are important for mining research – making them technologically advanced in the industry compared to other countries.

Mining contributes to about 5.6% of the Gross Domestic Product of Australia. Mineral exports contribute to about 35% of Australia’s total exports. This makes Australia the worldwide leader in the export of coal, which makes up for about 35% of international trade; second largest in the export of gold and uranium, and third largest in aluminum. It is interesting to note, however, that despite the significance and the importance of the export in the mining sector, less than 2% of the entire labor force is employed. Roughly around 129,000 Australian workers are employed by Australian mining companies. The opportunities provided by Australian mining companies not only improve the economy, but also give life and productivity to a continent.

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