Did you know? Ten fascinating mining facts
2021-10-27T15:37:00Z
Mining
The mining industry is a key driver of the world’s economy, with the market expected to reach a value of nearly $1.86 trillion by 2022. Our modern-day life depends on mined materials in a myriad of ways, from the cars we drive (lead, zinc), to the houses we live in (steel, copper, aluminium), to the roads we drive on (limestone, bitumen, gravel), to the phones we use (rare earth elements, silicon).
As the world embraces carbon neutral and green initiatives, the minerals required to support this shift to renewables are in higher demand than ever. Australia is a key player on the global stage of mineral exploration, producing 19 useful minerals in significant amounts from over 350 operating mines across the country. Want to learn more about this dynamic global industry, and Australia’s place in it? We’ve sourced 10 facts about mining, from Australia and around the world.
Australia has the largest crude iron ore reserves in the world
Australia holds the largest reserves of crude iron ore in the world, according to a 2021 report by Statista. Home to a whopping 50 billion metric ton of the steel-making stuff, Australia makes up half of the world’s total iron ore exports, shipping predominantly to China, South Korea, Japan, Taiwan, Indonesia and India.
Western Australia is the epicentre of Australian mining, hosting 98 per cent of Australia’s iron ore. Most of the major iron ore projects are located in the Pilbara region in the north of the state.
Copper was one of the first metals to be unearthed
Considered a commodity of the future due to its important role in renewable energy systems, copper is certainly no new kid on the block. A copper pendant discovered in what is now northern Iraq has been dated back to 8,700 BC, leading scientists to believe it is one of the first metals to be unearthed.
Scientists have even discovered copper pipes dated back more than five thousand years. For nearly five millennia, copper was the only metal known to humans, and was thus used for all metal applications.
The world’s largest open-pit mine is in Utah, USA
Located near Salt Lake City in Utah, USA, the Bingham Canyon Mine is the world’s deepest man-made open-pit excavation site. Spanning an immense 4.5km wide and 1.2km deep, the mine is so large it can be seen from outer space.
In operation since 1906, it is the largest copper mine in the world, also producing materials such as gold, silver, molybdenum, platinum and palladium. Owned by Rio Tinto, the mine creates around 2,400 mining jobs.
Pure gold can be molded with the hands
Did you know that pure gold is so soft it can be molded with the hands? Otherwise known as 24 carat gold, 100 per cent pure gold will not oxidize, rust, tarnish, corrode, decay or deteriorate. Despite mankind’s lust for gold dating back centuries, this precious metal is very elusive: it is believed that 80 per cent of the world’s gold is yet to be discovered, still buried beneath the earth’s surface.
