2014-02-07 05:09:01 - Mining of Metal Ores in Australia: ISIC 13 - a new market research report on companiesandmarkets.com
On the back of fast-growing demand from the Chinese steel industry, the Australian metal ores mining industry posted an astounding net 502% growth over 2000-2010, and will remain an important metal ores exporter in the world. After the growth equivalent to 20% annual growth, the local market was valued at A$52.5 billion.
Experiencing double-digit growth for most years of the decade, the only year-on-year decline of 16% came in 2008, when China had built up large stocks of iron ore, which forced many miners to defer part of the shipments and to sell them at a discount elsewhere. Interestingly, in 2009 when the whole economy experienced a downturn, this market grew 47% year-on-year as the running down of previously built-up stocks
increased prices globally.
Businesses accounted for the entire buyers´ market throughout the decade. Local miners´ turnover in 2010 was valued at A$100 billion, after seeing 20% average annual growth throughout the decade.
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