Answer To: Topic Evaluating the challenges of mining industry in Australia. What I want you to do is to go...
Kuldeep answered on Aug 05 2020
Challenges of mining industry in Australia
Challenges of mining industry in Australia
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Contents
1. Introduction 3
2. Project Objective 5
3. Project Scope 5
4.0 Literature review 5
4.1 Challenges Thiess Pty Ltd Company facing 5
4.2 Key challenges ahead for the Australian mining sector 7
Conclusion 10
References 13
1. Introduction
1.1 Background statement:
Australia is one of the world's leading mineral resource countries, ranking among the top two to five countries in the world, depending on the commodity (Impey, 2017). This report is important for government as this report will bring awareness of what is happening in the mining sector and provide a brief knowledge about how these challenges are tackled will affect the Australian mining industry's competitive position in the global economy. Australia has a fair share of the issue when compare to other countries in mining business. For example, World Bank statistics show that between 2012 and 2016, gold prices fell by 25%, silver prices fell by 45%, and copper prices fell by 40%. Thiess Pty Ltd mining companies face many challenges in their search for the potential of the country's mineral resource endowments; these challenges range from economic factors such as commodity prices and terms of trade, resource availability, the determination of economic rents acquired by the sector and its subsequent Redistribution to environmental factors, including the government's carbon pricing policy.
1.2 Justification of study:
This report focuses on transparency, better processing and security in policy design and implementation, as they may affect capital expenditure. Australia has consistently maintained a high position in a global risk index, including general and specific mining. Independent of its potential, the mining industry is facing a stagnation period due to the combined effects of various factors. In this report risks Thiess Pty Ltd Company face is discussed in brief. For example, unlike other companies involved in an Energy Efficiency Opportunities plan, energy utilized is not at all fixed to any single geographic location in the Australia.
1.3 Thesis statement
The Australian resource sector has long contributed to national economic growth, regional development and the overall well-being of national citizens. The industry is currently in a wave of demand-driven prosperity, with most of the relevant output and investment growth reflecting the rapid expansion of emerging economies.
2. Project Objective
Although the mining industry has experienced a difficult period, there seems to be calmer water in the future. “Australia is one of the world's leading mineral resource countries and ranks among the top two to five countries in the world, depending on the commodity.
· To identify the challenges faced by Australia mining industry.
· To understand the mining industry and to evaluate how the performance directly or indirectly affects all Australians.
· To understand the underlying issues and challenges Thiess Pty Ltd Company facing.
3. Project Scope
As the value proposition of the mining industry becomes more and more questionable, mining companies are beginning to realize that unless they change their way of doing business, they will not be able to successfully enter the future. The scope of the project is to assess all the major challenges facing the Australian mining industry. The project is not just about improving efficiency. This is to rebuild trust with stakeholders and work together to develop better responses. “It is certain that the analysis of historical data will continue to gain insights from trends and patterns to identify all the challenges that the mining industry needs to overcome.
4.0 Literature review
The mining industry is basically based on resource development. Usually it is recognized as the physical entities whose scope and accessibility are determined by scientific ways. However, sources are fully understood in the terms of relationships and functionality. In this wider interpretation, the resources are both materials, economic and cultural. From this point of view, it is clear that diverse societies and groups have different views on "resources".
4.1 Challenges Thiess Pty Ltd Company facing
According to (Bayari, 2016), in the case of Australia, this is evident in the source-based development and interface of the local people, but it also applies to a community where the removal of mineral resources is not the priority activity. In this situation, the relative value of shareholders' resources, or much precisely overlapping resources - for example, cultural heritage, environmental value, agricultural activity, mineral wealth and social integration - competition. Unfortunately, these competitive values so far have so far led to conflicts that are apparently the most difficult to attract support from social research. As per (Van der Veer, 2014) although investment in the social science investigation is usually low, it is difficult to attract research funding, especially for controversial or conflicting issues, compared to technology research and development investments. The second problem is that the company's social background of business confidence means that there is little cooperation between companies in regional research, which may lead to broader conclusions. “This also means that the study and single study funded by the company is not available to other corporations, researchers and shareholders, for example, local self-government organizations” (Gillespie, 2013). Although Australia provides a large financial resource base for many things, Australia's low-cost low-risk opportunities decrease. As a result, it is difficult for companies to get a low tariff and to try to develop oil and gas projects in foreign and deepwater areas. According to (V.B., 2018) it is estimated that continued resource utilization has a significant negative impact on the multi-factorial productivity of the Australian mining industry. However, 2014 is the peak of the Australian mining industry's renaissance. If the external situation is analysed, the fall in prices of major mining and energy commodities poses a serious obstacle to global and local exploration and mining investments. In fact, data from the past decade shows that in addition to lithium (from USD/Tn.35005 in 2007 to USD/Tn.7500 in 2016), gold, silver, copper, lead, zinc and aluminium have proven...