The Australian economy The minerals resources industry is a key
pillar of the Australian economy. The minerals resources
industry accounts for more than 6 percent of Australia's economy
and has invested more than $125 billion in Australia in the last
10 years. The mining industry's contribution to the Australian
economy is now $121 billion a year. In terms of export income,
it generates $138 billion per annum, which represents over half
(54 per cent) of total goods and services. Across the nation
mining employs 187,400 people directly, and a further 599,680 in
support industries. In wages and salaries that amounts to $18
billion; an additional $21 billion is contributed through
company tax and royalty payments. Not least, the industry spends
$35.2 billion on new capital investment, $5.7 billion on
exploration, and $4.2 billion on research and development.5