Download: Australian Mining Boom to top $122.6 billion by 2016
The mining boom for iron ore, nickel, copper, gold, silver, uranium, diamonds, zinc, coal and bauxite continues to flourish in Australia. Analysts report this week the country’s mining sector will be worth $122.6 billion by 2016, current figures stand at $99.6 billion for 2011 with iron ore highlighted as the key performing natural resource with output increase to reach 75 million tonnes by 2016, up from 488 million tonnes in 2011.
The effect on the population is immense – the highest-earning towns in the country, remote and until now almost unknown, are Cane, Onslow and Peedamulla in Western Australia. In these remote towns mining workers have been earning more than triple their colleagues in the rest of Australia, where average personal incomes are about $32,000 and standard household incomes are about $66,000.