China Mining 2012

China Mining 2012

Uncovering Australia’s mineral resource potential:

Hidden treasures

Andy BarnicoatChief, Minerals and Natural

Hazards Division, Geoscience Australia

4th November 2012

China Mining 2012

China’s imports of coal:volume share by country

Australia is second largest supplier of coal (thermal and metallurgical) to China, with 22% share

China Mining 2012

China’s imports of iron ore:volume share by country

Australia is the largest supplier of iron ore to China

AUSTRALIA

China Mining 2012

Japan

Korea, Rep.

China

India

Other Asia

European Union 27

Other

Japan

Korea, Rep.

China

India

Other Asia

European Union 27

Other

Japan

China

Korea, Rep.

Other Asia

Thailand

India

European Union 27

Other

Japan

China

Korea, Rep.

Other Asia

Thailand

India

European Union 27

Other

Japan

China

Korea, Rep.

Other Asia

Thailand

India

European Union 27

Other

Japan

China

Korea, Rep.

Other Asia

Thailand

India

European Union 27

Other

Japan

Korea, Rep.

China

India

Other Asia

European Union 27

Other

Japan

Korea, Rep.

China

India

Other Asia

European Union 27

Other

$43.9b $109.5b

$34.1b $69.7b

Mineralresources

Energy(incl. coal)

6.8%

39.3%

2.1%

12.9%

Australia’s mineral and energy export markets: China’s growth

Source: Bureau of Resources and Energy Economics, 2012

China Mining 2012

Australian minerals and energy commodities production

Energy

Minerals

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Australian energy and minerals export earnings

Energy

Minerals

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Australia’s mineral and energy resource investments: value in $AUD

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Australian resources growth 1977-2010, and world rankings

CommodityTotal

production

Growth in resources

cf. production*Resources#

World ranking

Iron ore 5,000 Mt 6.8x 2

Black coal 8,000 Mt 22x 5

Gold 6,000 t 3.2x 1

Copper 16 Mt 8.3x 3

Nickel 5 Mt 9.4x 1

Zinc 31 Mt 2.2x 1

Sources: Resources - Geoscience Australia; Production - Australian Bureau of Agricultural and Resource Economics

* All categories:- Measured + Indicated + Inferred Resources# Economic Demonstrated Resources (EDR)

China Mining 2012

see next image

Source: Australian Bureau of Statistics

Australian mineral exploration expenditure to June 2011

Exploration spending (A$ million, 2010-11 $)

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Is Australia ‘mature’ for mineral exploration? NO!

(greyscale, 0.5 vertical derivative)draped on simplified surfacegeology (coloured areas), and major mineral deposits (colouredcircles)

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Mineral deposit discoveries: Australia vs the World

China Mining 2012

Australia’s commodity inventory

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1:1m Surface Geology

National datasets to support exploration

Geoscience Australia is a federal government agency,

delivering fundamental national & regional datasets to reduce risk in exploration

targeting

Gravity

Radiometrics

MagneticsData from State/NT Geological

Surveys and GA

China Mining 2012

Australian exploration projects

1352

1126

626

203

680

649

172103

12262

11666

834

379

8227

49

40247

341

296

10059

0

500

1000

1500

2000

2500

3000

3500

Au Cu Coal U REE Ni

0

500

1000

1500

2000

2500

3000

3500

Au Cu Coal U REE Ni

Feasibility

Advanced

Exploration

Grassroots

Number of exploration projects by stage of development

China Mining 2012

Australia: More to discover downunder!

• Geological potential is high – Many opportunities; proven record of

discovery; wide range of commodities

• Supportive governments– State/NT exploration incentive schemes– National and State/NT free digital data– Partnerships with investors

• Low sovereign risk– Australia is 7th lowest risk in World

China Mining 2012

For more information, and free national and regional geoscientific datasets, visit:

Australia stand (in the Exhibition)

www.ga.gov.au/mineralswww.geoscience.gov.au/

Australia: More to discover downunder!