Over the forecast period (2012-2016), the country’s mineral production volume is expected to increase from 994.7 million tons in 2011 to 1.4 billion tons in 2016, at a compound annual growth rate (CAGR) of 7.41%.

Iron ore production output in the country is expected to increase from 465 million tons in 2011 to 706.9 million tons in 2016, at a robust CAGR growth rate of 8.96%.

Australia’s coal production output is expected to grow from 405mtpa in 2011 to 561mtpa in 2016, at an average annual growth rates of 6.5%.

The BRICdata forecast for coal production in Australia was revised down from 425mtpa to 405mtpa in 2011, due to the effects of flooding which postponed mining production in Queensland at the start of the year.

The proposed 40% tax on mining company profits has not significantly affected investments in the Australian mining sector, since several new coal and iron ore mining projects were announced in the country after the tax was first proposed, the report said.

The growth in mining production volume will also benefit from the completion of new mining projects across the country, most notably projects by Rio Tinto, BHP Billiton and Xstrata.

The full report, ‘Australian Mining Industry Outlook – Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016’ is available from BRICdata. Click here for more details.