The Mining Industry in South Australia Essay

The Mining Industry in South Australia Essay

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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...

... middle of paper ...>.
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, .

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