PM Modi will be in Australia from 8 to 10 July.
Prime Minister Narendra Modi will be in Australia from July 8 to 10 as part of his five-day foreign tour. Will participate in many programs here. Then will leave for New Zealand. Australia is a very important partner country for India. PM Modi has reached Australia for the third time in his tenure. Earlier he had gone on a tour of Australia in November 2014 and May 2023. Australia is a country which is known for boosting its economy on the basis of its natural treasures. Come, on the pretext of this third visit of the PM, let us know what nature has given to Australia’s treasury, through which it is becoming rich?
Australia is counted among the countries with the richest natural resources in the world. Vast land, low population and mineral wealth have made it economically strong. There are such treasures hidden in the earth which are in demand all over the world. This is the reason why the mining sector plays a big role in Australia’s economy. Resources like iron ore, coal, gold, natural gas, lithium and uranium have given this country a special identity in the global market. Australia earns billions of dollars every year from the export of these minerals.
iron ore greatest treasure
Australia’s biggest natural treasure is iron ore. It is mainly found in the Pilbara region of Western Australia. Australia ranks first among the world’s largest iron ore producers.
Australia has large reserves of iron ore. photo: pexels
Steel is made from iron ore, hence its demand always remains. A large part of Australia’s export earnings comes from this.
- Estimated Reserves: about 50 to 55 billion tons
- Global share: about 30 percent
- Major Buyers: China, Japan and South Korea
The main coal mines are in Queensland and New South Wales. photo: pexels
Coal is also a source of big income
Australia is also among the leading countries of the world in terms of coal. Two types of coal are available here. Thermal coal, which generates electricity and coking coal, which is used in the steel industry. The main coal mines are in Queensland and New South Wales. Coal export generates billions of dollars of income every year.
- Estimated Reserves: about 150 billion tons
- Global Rank: included in top countries
- Major Markets: Japan, India, China and South Korea
Australia benefits from rising gold prices. photo: pexels
Gold gives shine to the economy
Australia is also among the largest countries in the world in gold production. The Kalgoorlie region of Western Australia is most famous for this. Australia has been continuously benefiting from the rising prices of gold.
- Estimated Reserves: about 12 thousand tons
- Global share: around 20 percent
- Major Uses: Jewellery, Investments and Electronics
Lithium is used in batteries. photo: pexels
Lithium becomes the star of the new economy
The world is rapidly moving towards electric vehicles. In such a situation, the demand for lithium is continuously increasing. Australia is currently the world’s largest lithium producer. The increasing demand for green energy has made lithium Australia’s biggest future treasure.
- Estimated Resources: about 70 lakh tons of lithium
- Share in global production: about 45 to 50 percent
- Major Uses: Electric vehicles, mobiles and batteries
Large reserves of natural gas
Australia is a major exporter of liquefied natural gas (LNG). There are large gas reserves in the north-western coast and marine areas of the country. The country gets huge foreign exchange every year from LNG export.
- Estimated Gas Reserves: approximately 2.4 trillion cubic meters
- Major Customers: Japan, China and South Korea
Australia has one of the largest uranium reserves in the world.
Huge reserves of uranium make it rich
Uranium is essential for nuclear energy. Australia has one of the largest uranium reserves in the world. Although nuclear power production is limited domestically, uranium is exported to many countries.
- Estimated Reserves: about 17 lakh tons
- Global share: about 28 percent
- Major mines: Olympic Dam and Ranger Area
Bauxite is also not less here
Bauxite is required to make aluminium. Australia is also very rich in this mineral. Export of bauxite and aluminum also strengthens the country’s economy.
- Estimated Reserves: about 3.5 billion tons
- Global share: about 17 percent
- key areas: Queensland and Western Australia
Increasing importance of copper and nickel
Copper and nickel are very important for modern industries. They are used in electricity, electronics and electric vehicles. Australia also has good reserves of both these minerals. Their demand is likely to increase in the coming years.
- Copper: About 10 crore tonnes have been extracted. Hundred million tonnes are estimated to be underground.
- nickel: About 20 million tonnes have been extracted and a large quantity is available underground.
Diamonds and rare minerals are also making people rich
Australia was once among the world’s largest diamond producers. Even today industrial and precious diamonds are produced here. Apart from this, rare earth elements i.e. rare earth minerals are also found. They are used in defence, computers, mobiles and modern technology.
Australia has one of the largest uranium reserves in the world. photo: pexels
How much profit is there from mining?
The role of the mining sector in Australia’s economy is very important. A major share of total export earnings comes from mineral and energy resources. The mining industry provides direct and indirect employment to lakhs of people. The government receives huge income in the form of taxes and royalties. Foreign investment also comes in large quantities. For this reason the mining industry is considered the economic backbone of Australia.
Why is the world eyeing Australia?
Today the world is moving towards clean energy. The demand for lithium, nickel, copper and rare earth minerals for electric vehicles, solar energy and modern technology is increasing rapidly. Due to the abundance of these resources, Australia can remain an important center of the global economy in the coming decades.
Landed in Melbourne, Australia. This visit will add vigor to the India-Australia Comprehensive Strategic Partnership. I look forward to the talks with Prime Minister Albanese. I will also have the opportunity to interact with the Indian diaspora which is an important pillar of pic.twitter.com/Qu8BeAAeGm
— Narendra Modi (@narendramodi) July 8, 2026
How much does mining contribute to Australia’s GDP?
Australia’s GDP is around two trillion US dollars. The share of mining in this can be understood in three ways.
- Direct contribution to GDP: This is approximately 910 percent. It has been increasing in recent years. According to Australian statistical data, the direct contribution of the mining sector remains strong.
- Contribution to Exports: Mineral and energy resources account for 5565 percent of Australia’s total goods and energy exports. Iron ore, coal, LNG, gold and lithium are the biggest contributors to this.
- Indirect effect in GDP: If transportation, engineering, machinery, ports, financial services etc. are also added, the impact of mining on the economy is considered to be 15 percent or more.
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