In: Economics
is australia will always need mining industry for its economic prosperity?
negative side
500~1000 words please
Mining is an important source of income for Australia.
Australian mining is an important industry in the Australian
economic system, with employment, export earnings and royalty
payments. Mining growth has prompted the migration of the
Australian population and thereby increased population. Mining
accounts for 8% of Australian GDPand above50% of exports. In 2016,
mining accounted was 6% of GDP. This made the Australian economy
the fourth largest economy. In recent years, its exports have been
more than $ 170 billion.The biggest mining companies in Australia
are:
Rio Tinto,Fortescue Metals,Newcrest Mining, Evolution Mining, BHP
Group etc.There are some major mining states in Australia. Western
Australia and Queensland are resource-rich states. Half of
Australia's major mines are in Western Australia.
Why is Australia so rich in minerals? Because Large iron ore deposits, natural gas, uranium, coal sim gas, coking coal, thermal energy, gold resources, minerals, and the presence of global demand centers in Asia are all leading the Australian mining industry.
Now let's take a look at the negative aspects of the mining
economy. We have created tremendous prosperity for the Australian
economy. It is true but it has many quotas. It has negatively
impacted local communities.This is a fact that has gained attention
in Australia.This has affected neighbors and city dwellers. Mining
activities have had a negative impact on the environment. Examples
of this include mining, loss of biodiversity, erosion, pollution of
water and soil.
The Inflation has risen in the country. Economic inequality has
increased in the country. The mining area threatened the lives and
property of the residents. These mining industries have had many
consequences in Australia.