Australia is a major player in the mining industry. Two of the biggest mining companies in the world are based in Australia. The mining industry in Australia is booming – the revenue of the Australian mining industry is estimated to be $527,2 billion in 2023.
The first silver was discovered in South Australia in the 1840s, which led to a surge in immigration of miners and the export of ore to the colonies on the island continent of Australia. Mining companies soon became a major source of export income, but it wasn’t until gold was discovered near Ophir, New South Wales, in 1851 that the mining industry really took off.
Copper quickly became the nation’s top export, but gold was the real game changer. Keep reading to find out the top 10 mining companies in Australia.
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1. Whitehaven Coal
The company is the king of Australia’s only up-and-coming high-grade coal basin, running four mines in NSW’s Gunnedah Basin. The main mines are backed up by two other high-quality development assets, Vickery in Gunnedah and Winchester South in Queensland’s Bowen Basin. They help power up emerging economies in Asia, where demand for coal is still high.
2. Fortescue
Fortescue has been around since 2003 and is one of the world’s cheapest iron ore producers. They ship over 180 million tonnes of iron ore every year and have delivered over 1.7 billion tons around the world.
They have three mining hubs in Western Australia – Herb Elliott in the Pilbara, and Judith Street Harbour in Port Hedland – connected to the world’s fastest heavy haul railway at 760km.
In March 2022, they acquired Williams Advanced Engineering and will work together with WAE to create the world’s first electric zero-emission train, the Infinity Train, which uses the Earth’s gravity to charge itself.
3. Rio Tinto
Rio Tinto is the second-largest mining company in the world, with more than 52,000 people working in over 35 countries. They’ve been around for more than 150 years and produce a wide range of products, from copper and aluminium to diamonds and gold.
Most of their operations are in the US and Australia, but they also have sites in Europe, Africa, South America and Asia. In March 2022, they got the green light from Australia’s FIIR for their $825 million Argentine lithium project Rincon Mining.
4. South32
South 32 is a mining company that was spun off from BHP Billiton back in 2015. They mainly focus on metals from their operations in Australia, South Africa and South America, and they’ve already hit their first greenhouse gas emission reduction target of keeping their Scope 1 GHG emissions below their FY15 baseline.
5. BHP
BHP Group is the number one mining company in the world, and it’s easy to see why. It’s based in Australia, but it has operations all over the world, with most of its operations in Canada and Australia. It produces all sorts of essential commodities, from iron ore to copper and nickel to potash and coal.
It’s aiming to reach net zero emissions by 2050, and it’s also set out some big goals for the value chain for 2030, with a focus on tackling Scope 3 emissions. It’s all backed by a huge $400 million investment.
6. Newcrest Mining
Newcrest mining is one of the biggest gold mining companies in the world and is the biggest listed company on the Australian Stock Exchange. They produce gold and copper in Australia, with their main site being at Cadia east ridgeway in Cadia Valley Operations.
Their second Australian site is the Telfer mine in Pilbara, Western Australia. Newmont made an offer to buy Newcrest in February 2023 but the board turned it down because it didn’t think it was worth it.
7. IGO Ltd
IGO Ltd is a mining company with a focus on buying, finding, mining, producing and developing gold, copper, Nickel, Zinc, Cobalt and Silver deposits. They have three operations in Western Australia – Nova Nickel-Copper-Cobalt, Forrestania Nickel and Cosmos Nickel.
They also have a stake in a joint venture that focuses on Lithium hydroxide, which is used in batteries. This includes a 51% interest in Greenbushes and 100% in Kwinana, which is a downstream processing refinery.
8. Evolution Mining
Evolution Mining is one of the biggest mining companies in Australia. They’re the 49th biggest in the world and specialize in gold production and mining. They’ve been around for a while, starting out in November 2011. It’s pretty impressive that they’ve made it to the 6th biggest Australian mining company.
9. Northen Star Resources
If you’re looking for a gold mining company in Australia, Northern Star Resources might be the one for you. Founded in 2000, Northern Star Resources focuses on exploring, developing, and producing gold. They’re based in Perth, WA, but they have a number of mines and projects all over the state.
Some of their mines are in Western Australia, and they’ve developed a great environmental management system that helps guide their operations.
10. Iluka
Iluka is an Australian company that mines and sells mineral sands. They’ve been around since 1954 and are based in Perth, WA. They’ve got mines and projects all over Australia, like Jacinth in South Australia, Sierra Rutile in Sierra Leone, and more.
They’re all about sustainability and mining responsibly, so they’ve taken steps to reduce their environmental impact and help the communities they work with.
To Sum,
Australia is home to a wealth of natural resources, from coal and iron ore to gold and lead. Considering the top 10 mining companies in Australia, the three main mining regions in Australia are WA, Queensland and NSW.
Western Australia is one of the most important mining regions in the world, with some of the biggest mining companies in the world such as BHP group, Rio Tinto and Gortescue. This means that some of the most important mines in WA are responsible for producing minerals that are essential for industries all over the world.