Australia

Natural Resources in Australia

Minerals in Australia have had a tremendous impact on the country's economy. Alluvial gold (gold sediments deposited by rivers and streams) spurred several gold fevers. Gold, bauxite, iron, and manganese reserves as well as opals, sapphires, and other precious stones have been discovered in Australian soil. It is estimated that Australia has 24 billion tons (22 billion tonnes) of coal reserves. Australia meets its domestic coal consumption needs with its own reserves and exports the surplus.

Natural gas fields are liberally distributed throughout the country and now supply most of Australia's domestic needs. There are commercial gas fields in every state and pipelines connecting those fields to major cities. All in all, Australia has trillions of tons of estimated natural gas reserves trapped in sedimentary strata distributed around the continent.

Australia has rich deposits of uranium ore, which is refined for use for fuel for the nuclear power industry.

The Western Australian shield is rich in nickel and zinc deposits.

Major Products

1. Australia is world known for its coal mining. Australia is the largest coal exporter in the world. The country has an absolute advantage in this industry since it supports large deposits of coal distributed around the continent.

2. Sheep industry- wool and meat: The country’s vast area provides soils and climates for the sheep and cattle industry. Cross breeds of sheep are largely used by the manufacturers to increase the quality of these products.

3. Tourism: Tourism is one of the major industries in Australia that assures a steady annual income to the country. Tourists are attracted to Australia by its diverse scenery and the temperate climate. A major attraction is the kangaroos which are considered as an emblem of Australian wildlife. This also includes koala, platypus, wombat, etc.

Competitive edge

1. Australia’s natural resources give it a great...