The Future of Mining in Australia

 

Mining is one of the top industries of Australia. In fact, the mining industry is four times larger than the agriculture industry. This fast growing sector continues to contribute to the country’s economy as it attracts a lot of investments and employs a lot of people.

 

Over the years, economists have credited the mining boom to the countries prime economy. Huge companies have been continuing to grow, announcing business expansions left and right, and are willing to invest billions of dollars to said industry. In a report from the Sydney Morning Herald, they have mentioned that the demand from China of resources such as coal, copper, aluminium and iron ore fueled Australia’s economy and helped it to go through the global financial crisis without sliding into recession. Australia is one of the very few developed countries to experience such relief.

 

However, some people cannot help but feel anxious about the future of this industry. Politicians have voiced their thoughts that the economy is going too slow, though economic analysts have already denied this. Finance Minister Penny Wong said in a radio interview that Australia have still got “a long way to run when it comes to investment boom” and added that the mining industry in the country “have got over half a trillion dollars of investment” so the so-called “doom and gloom” speculations are not appropriate.

 

Investors are looking at Australia’s mining industry as a sector that will continue to grow prosperously over the next few years. They have also mentioned that the growth has not peaked yet, thus people should expect a bigger and better impact in the future. As of now, according to Resources and Energy Minister Martin Ferguson, the mining industry in Australia currently has $270 billion in investments.

 

The strong demand for Australian commodities and resources in the future will surely strengthen the mining industry in the country. A lot of people will continue to enjoy highly-paid jobs. This is surely a good news not just for the government but also for the ordinary citizen.

CS Coal Mining Services – Services for the Coal Mining Industry.

 

The Importance of Hydraulic Accumulators in Mining

Mining is a very strong industry in Australia and began as early as the 1850s gold rush.  Australia is rich in resources such as copper, iron ore, opal, gold, and so much more.  Mining is required to get to the minerals or other rich geological materials that is abundant in the many sites around Australia.

One method of mining that is used is called hydraulic mining and involves using high-pressure jets of water to make it easier to dislodge rock material and sediment. There is a lot of movement of rock and sedimentary waste involved in mining and is not of much interest to miners.  In fact, in the lifetime of a mine more waste is mined than the actual rich minerals.

When using high-pressure jets for mining it is important to have the right amount of pressure in order to be able to cut through all the useless rock and sediment.  Having an optimal amount of pressure is essential all the time – without it, the hydraulic mining industry would not survive.

Having hydraulic accumulators that are able to store fluids under pressure and are ready to serve out that pressure at any time is a very valuable tool in the mining industry.  The addition of a hydraulic accumulator when mining provides you with advantages to help speed up a project and is also cost effective as it saves energy as well by cutting on use of other power hungry tools and equipment.

Miners know that the correct volume and pressure is crucial to their jobs and understand that a hydraulic accumulator is a valuable piece of equipment to have in the mining industry.  Hydraulic accumulators are easy to maintain and cost effective as well which just adds to the advantages of using them.  There are many vendors out there who provide high quality hydraulic accumulators, such as Hydac International, who supply top quality Hydac Hydraulic Accumulators.  It is easy to find the right equipment by contacting them and you’re even able to get a demo done at the site.

Update on Aquila’s West Australians Iron Ore Project

Things are not looking well for Australia’s Aquila Resources Ltd as it has suspended it’s $7.7 billion iron ore project due to funding difficulties.  The iron ore project in Western Australia started to slow down last year when China’s demands decreased therefore leaving the West Pibara Iron Ore project to a standstill.

An on-going dispute is not between Aquila and partners American Metals and Coal International (AMCI) and South Korean steel giant Posco has also been sent to arbitration.  The dispute began in September when the project was frozen as iron ore prices dropped to a three-year low. So far there is no news to when the project will resume and is rumoured to be suspended for the whole year of 2013.

The executive chairman has also released a statement that the project director , Kevin Watters, had quit and will be joining a competitor. Watters, will be joining Aquila’s competitor, Brockman Mining which is also working on an iron ore project.  Aquila has not found any replacement for Watters and no further details have been disclosed if they are looking for one immediately.

The West Pibara Iron Ore Project did win state environmental approval for the development of Anketell Port.  The West Australian government said that construction of the port will not be allowed until Aquila has enough funds for the said project.  It is said that thirty million tonnes of ore can be exported a year once the port is completed.  A two hundred eighty two kilometre rail line is just one of the many costs that Aquila has to face, plus the existing volatile iron ore market.

The mining boom has cooled and it seems that Aquila did not prepare enough for such circumstances.  Even if the budget issues are resolved, billions of dollars are going to be required which again will be used to gamble for development.  The iron ore industry is definitely a ticking time bomb at the moment for Aquila and hopefully things will get better for them.

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