Australia's Key Mineral Resources Are Up

According to MiningNews.net, GEOSCIENCE Australia's Annual Identified Mineral Resources report.

As of December 2020, Australia is still the world's largest source of iron ore, accounting for 29% of the world's economic resources.

Australia is also the world's largest producer of iron ore, producing 922 million tons in 2020, or 38 percent of the world's total.

Australia is also the world's largest gold resource country, its economic resources of 11,000 tons, accounting for 1/5 of the world.

It is the world's second largest gold producer after China.

Australia also leads the world in bauxite, rutile and lithium, the latter of which accounts for almost half the world's production.

Cobalt, ilmenite, manganese, rare earth and zirconium also rank among the top five in the world.

The Australian government has been focusing on increasing reserves of key mineral resources, with the report showing growth in 2020.

Among them, rare earth resources increased by 4%, lithium by 8%, vanadium by 23% and platinum group metals by 185%.

Cobalt, tungsten, antimony and scandium resources also increased.