Mining industry has been the anchor of South Australia’s economy and, benefits it has provided outweigh whichever associated costs. As developed by the South Australian State Government (2013), “realising the benefits of the mining boom for all” is one of the seven strategic priorities to secure the state’s future. Mining is an important industry in South Australia because it has been a major source of minerals for the high demand in Australia and many countries (Flinders Ranges Research n.d.). This industry plays a vital part in advantaging the state in terms of economic – profits and job opportunities; social – more skilled workers and population growth in the outback; political – good state and country reputations; cultural – workforce diversification.
Firstly, South Australia’s mining industry immensely increases job opportunities in the society. For instance, South Australia is hosting 34 emerging minerals developments indicating the demand for skilled mine workers of around 14,800 personnel as stated by Validakis (2013). On the contrary, mining industry negatively impacts the South Australian economy if it is compared to the other states, as it has reduced the state’s Gross State Product (GSP) growth by 0.16 per cent. This is due to competitions with other states that have larger exposure to mining (Duc, Bailey & Marshall 2013). Nonetheless, about 15,000 new mining jobs in South Australia will need to be filled over the next seven years according to a report from iMINCO (2013). Moreover, the number of jobs is expected to more than double by year 2030.
Another benefit attributable to mining industry in South Australia is the population growth in the outback area. The land on which the Olympic Dam mine is, was previously pasto...
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...tra.gov.au/documents/Economic-Industry/Economic_Impact_of_the_Current_Mining_Boom_on_the_Australian_Tourism_Industry_FINAL.pdf>.
Treasury of Australian Government 2013, Chapter 5 - Australia with carbon pricing, viewed 22 November 2013, .
Validakis, V 2013, 35,000 new mining jobs to be created in South Australia, viewed 20 November 2013, .
Wiseman, J 2008, Uranium mine gets nod amid pollution fears, viewed 21 November 2013, .
World Nuclear Association 2013, Australia’s Uranium, viewed 20 November 2013, .
BlueScope Steel Australia and New Zealand (BANZ) is a manufacturing company that produces a range of flat steel products for the Australian and New Zealand domestic market. BANZ was formed in July of 2011 which saw the amalgamation of company sections; Australia and New Zealand Steel Making Business (ANZSMB), LYSAGHT and Distribution Business. This amalgamation was followed by a major organisational restructure which ultimately led to the closing down of Number 6 Blast Furnace and resulted in around 800 job losses at the Port Kembla works and 200 job losses at the Western Port works in Victoria. The aim of this project is to outline the rationale for the restructure and to provide a strategic analysis of the impact of the restructure on BANZ’s current market position. This will be achieved by first analysing the economic climate pre-restructure and evaluating the managerial decisions that led to the restructure. It will then explore the current economic climate in relation to BANZ to determine whether these strategic managerial decisions were sound. Finally the report will outline BANZ future developments and determine if the company will continue to be competitive in the future.
To conclude this analysis, it can be noted that any increases in the prices of fuel will increase Australia’s economy as a whole, in other words the higher the costs of logistics will increase the price of products (Australian Competition & Consumer Commission 2014). The consumers will have to handle the burden of having higher costs of products, which would create an inflation. With the increasing price of fuel, consumers might want to alter their lifestyles, such as using public transportation or even carpooling. Vacations and travelling will also have to be cut down. Australia requires further government intervention to control the price of fuel by subsidizing so that inflation may be curbed.
Olympic Dam Mine is an underground mine which produces copper, silver, gold and uranium and was first opened in 1988. In addition to the underground mine, the site also hosts an integrated metallurgical processing plant. The Olympic Dam Mine is located 555 kilometres north-west of Adelaide in South Australia. The mine has been owned by BHP Billiton since 2005 when it was purchased for $9.2 billion AUD from the Western Mining Corporation. The Olympic Dam Mine currently employs approximately 3500 people from the Adelaide region and surrounding towns with a majority of the employees living in the nearby town of Roxby Downs.
In 1948, a record of "125,000" West Virginia miners were employed. The picture looks different now however. Even though more coal is being mined than ever before in this state, the total number of miners employed is less than "19,000". The decrease in jobs have been blamed on technology.
Iron ore is Australia’s highest valued and most successful commodity export (see Figure 1). Throughout the 1990s and early 2000s, this mining industry played a key role in both Australia’s and the global economy. The change in the industry was brought about, particularly, by the many operations and movements resulting from globalisation that pushed Australia’s exports further than they had ever been. In 2007, “Australia produced around 16% of the world's iron ore and was ranked third behind China (32%) and Brazil (19%)” (Minerals Council of Australia, 2008). Although Australia is not the largest producer, it is currently the largest exporter of iron ore in the world (Australian Minerals Industry, 2008).
As I am sure you know mining has a extremely negative impact to the land but many good things come out of it. The mines in Broken hill have generated more than 100 billion dollars and a large amount of this has been given to the Broken Hill community. Broken hill has not only given Australia multiple resources but has also given so many Australians great jobs and memories that will impact their life forever.
Yes, this additional expense is necessary and mining affects the plant and animal population, hydrological cycle. And it’s necessary to maintain this for sustainable development.
North Stradbroke was originally known as the Indigenous name Minjerribah which means “Island in the Sun” in the Nunukul language (Moore, 2018). Furthermore, North Stradbroke is located off the coastal shores of Queensland and is the second largest sand island in the world, covering 275.2km² (Stradbrokeisland.com, 2018). Sibelco is a major sand mining, which is a practice that extracts sand from an open pit and can also be mined in other places such as inland dunes, beaches and drenched from the ocean and river beds (Envirotech-online.com, 2017). There are two main sources of income for North Stradbroke which are sand mining and tourism. In this report, the advantages and disadvantages of the closure of Sand Mining in North Stradbroke Island
In a typical year, the mining industry is responsible for almost 20 per cent of Canada's total export earnings3 (See Appendix A). As for the employment rate, over 70 per cent of the mines are owned by Canadians and approximately 108,000 Canadians are directly employed in the mining industry4. Mining is very important in Canadian life. Not only do the products power the family car and heat the family home, the manufacturing sector, the high tech industries and even the better known resource industries are all dependent, in some way, on the mining industry. The mining industry will continue to be an important support to the economy. Mining is taking full advantage of the quick expansion of computers and microelectronics.
Australia’s resources otherwise known as factors of production – natural resources, labour, capital and enterprise, are relatively scarce, resulting in the economic problem of relative scarcity as we cannot satisfy all our needs and wants in Australia as they are unlimited. Collective and individual wants are
In this article the author discusses the impact of the resources boom in Western Australia. The discussion was focus on mining boom that affect population and labour market in Western Australia. The author uses various methods developed by the Australian Bureau of Agricultural and Resource Economics and Sciences in analysing labour market and population changes. Garnett says the boom has increased economic and population growth. Moreover it also reduced unemployment rates in Western Australia. On the other hand, this condition also increased social and economic problem such as increasing need for social infrastructure and facilities. Her main
Australia has had one of the most outstanding economies of the world in recent years - competitive, open and vibrant. The nation’s high economic performance stems from effective economic management and ongoing structural reform. Australia has a competitive and dynamic private sector and a skilled, flexible workforce. It also has a comprehensive economic policy framework in place. The economy is globally competitive and remains an attractive destination for investment. Australia has a sound, stable and modern institutional structure that provides certainty to businesses. For long time, Australia is a stable democratic country with strong growth, low inflation and low interest rate.(Ning)
Mining is the process or industry of obtaining minerals from the earth. Topics in this paper I’ll be specifically discussing are pros and cons of mining, structures of a mine, mining in general, California gold rush, diamonds in Africa, and comparison of diamond and gold mines.
Yarra Rangers Shire Conci, . (2012, 04 05). Retrieved from Yarra Ranges Shire Concil: vic.gov.au/Business/What_is_Economic_Development
Gold mining in South Africa has a large impact on the environment, the economy and social structure in South Africa. The environmental impact of gold mining on the environment includes water, air and noise pollution. The mining industry in South Africa is one of the largest in the world. It provides jobs for hundreds of thousands of people in the mining industry alone. The mining industry also indirectly provides jobs for about 400 000 with the goods and services that the mines require to run successfully.