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Mining is by far Australia’s largest export industry. Over the past decade, the industry contributed $2.4 trillion in resources export revenue. While the vast majority of minerals extracted in Australia are exported, the benefits are retained in Australia. The industry has paid $252 billion in mining wages, $143 billion in company taxes, $112 billion in royalties, and generated 21 per cent of the economy’s growth. Additionally, the mining and minerals processing industry relies on and supports a wide range of other industries and service providers in Australia.
The investment in and development of Australia’s world leading mining industry has allowed Australia to translate its natural resources into better living standards for its people.
The world will need a huge amount of minerals and metals to achieve the goal of global net-zero emissions by 2050. This will require a massive uplift in investment in exploration and mining projects along with improvements in productivity from the adoption of new technologies and a more innovative workforce.
By 2030, to meet demand for electricity storage alone the world will require 50 new lithium mines, 60 new nickel mines and 17 new cobalt mines. Global mining investment is expected to increase by US$100 billion annually from current levels to produce the mineral commodities required for the world to achieve net-zero emissions by 2050. The economic opportunity this presents for Australia is significant, but not guaranteed.
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Download Your Free ReportPresently, Pilbara Minerals is a favourite among best ASX mining stocks as it is on expansion pathway to increase production up to 1Mtpa. Its accelerated growth is ready to capture positive demand conditions and increase revenue.
Mining shares are a good investment as investors can gain exposure to the price of commodities while hedging against inflation: Many investors buy mining stocks, including gold stocks, as a hedge against inflation, and some mining stocks pay dividends.
Western Australia hosts the world's largest hard-rock lithium mine, the Greenbushes mine. Having multiple growth projects, it is jointly operated by TLEA Joint Venture (IGO: 49% / Tianqi Lithium Corporation: 51%).
ASX mining stocks are companies listed on the Australian Securities Exchange (ASX) that are involved in the mining of minerals, metals, and other resources.
You can research ASX mining stocks by reading analyst reports, company financial statements, and industry news. Additionally, you can also check the performance and trends of the stock over time on financial websites.
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