Australia And Oceania - Australia

Australia was one of the world's principal producers of minerals and metals, and its minerals industry was a leading catalyst in promoting growth of the country. Australia was the world's largest producer of alumina, bauxite, diamond, ilmenite, monazite, opal, rutile, sapphire, and zircon. It was the premier exporter of alumina, coal, ilmenite, refined lead, monazite, rutile, and zircon, and was the second leading exporter of iron ore, after Brazil. Ranking behind China, the United States, the U.S.S.R., the German Democratic Republic, Poland, and the Federal Re-public of Germany, Australia was the seventh largest producer of coal (all grades) in the world. Australia was the fourth largest gold producer in 1988, after the Republic of South Africa, the Soviet Union, and the United States. It was the second largest producer of zinc, the third largest producer of nickel, the fourth largest producer of uranium, and the seventh largest producer of copper. 2 The country's mineral wealth was so extraordinary that it was virtually self-sufficient in most mineral commodities. Endowed with abundant resources of coal, natural gas, liquefied petroleum gas, and uranium, Australia was one of the few market economy countries that was a net exporter of mineral fuels. About 90% of Australia's consumption of crude oil was supplied by domestic production; this was expected to decline significantly about 1990, unless significant new oilfields were discovered.