australia's identified mineral resources 2004 - Geoscience Australia

AUSTRALIA’S IDENTIFIED MINERAL RESOURCES 2004
Foreword
Geoscience Australia provides information on the nation’s future capacity to produce mineral
resources. Australia’s Identified Mineral Resources is an annual nation-wide assessment of Australia’s
ore reserves and mineral resources. All major and a number of minor mineral commodities mined in
Australia are assessed. It includes evaluations of long-term trends in mineral resources, international
rankings, summaries of significant exploration results, brief reviews of mining industry developments,
and an analysis of mineral exploration expenditure across Australia. Comparable information on
petroleum resources is published in another Geoscience Australia publication: Oil and Gas Resources
of Australia.
Australia’s Identified Mineral Resources provides technical information on mineral and energy
resources, which is used in formulating Government policies and reproduced by the Australian
Bureau of Statistics. It also provides government, industry, the investment sector and general
community with an informed understanding of Australia’s known mineral endowment and level
of exploration activity.
To meet the increasing demand from Asian steel mills, particularly in China and Japan, Australian
mining companies have initiated major expansions in mine production of coking coal, iron ore and
manganese ore. Australia’s Identified Mineral Resources provides government with the information
required to monitor whether such resources are being discovered and developed for production at
rates sufficient to maintain Australia’s position as a major supplier to international markets. For this
reason, resource assessment for the national inventory takes a long term view of what is potentially
economic. Data on mining company estimates of ore reserve (JORC Code), which are generally
based on short to medium term commercial considerations, are also included for comparison.
National assessments of this type are assuming greater significance given international trends in the
minerals industry. Take-overs and mergers amongst the larger companies in recent years have led
to consolidation of the minerals industry. These companies explore or acquire mineral resources
in a global context, seeking opportunities for large and high grade deposits that can be mined costeffectively
with low impacts and low risks. There has also been a decline in the number of medium
sized mining companies, which have traditionally been very active and successful in Australia.
Resources data from Australia’s Identified Mineral Resources have also been included in an online
atlas of Australia’s Mineral Resources, Mines and Processing Centres, developed by Geoscience
Australia with support from the Minerals Council of Australia and Department of Industry, Tourism and
Resources, through the Government’s Regional Minerals Program. The atlas, which can be viewed at
www.australianminesatlas.gov.au, has a web-based GIS (geographic information system) format and
shows the location of mineral and energy resources, mines and production/processing centres.
NEIL WILLIAMS
Chief Executive Officer
Geoscience Australia
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