Industry Policy in the Mining Industry A Comparison of Australia and United States of America



Industry Policy in the Mining Industry A Comparison of Australia and United States of America

Introduction

The essay aims to discuss the mining industry and their governmental policy in Australia and USA. Both the countries have mining industry and have complete policies and procedures to run the industry. The essay will provide the comparison of the of Australian and American government policies.

Mining industry has a role for extraction of minerals and other geological materials from the earth, usually from a reservoir. The extraction, of coal, minerals, and oil include in mining. Other materials that are particularly useful extracts are clay, sand, ash, gravel, granite and limestone. Any material that cannot be obtained from agricultural processes is to be obtained by the mining industry. The mining industry also includes the extraction of natural gas and even aquifers. There are strict rules and policies from government. As this is one of the main industries of any country the government intervention is high in this industry. The modern mining companies in many countries require following strict environmental standards and recovery, to ensure that the mining area is returned to its original condition. There has been significant laws and regulation change in the mining industry (Dhar, 2001).

Discussion

The essay will discuss the comparison of mining policies of Australia and America, and the involvement of pressure groups in the country.

Australian Government Mining Policy

The mining industry makes a significant contribution to the Australian economy. Historically, mining has also contributed to the development of immigration to the country. Throughout the country produces a lot of different ores and minerals. Mining in Australia is one of the five largest producers of minerals in the world. The mining of minerals in Australia is constantly expanding. It is highly developed in coal, iron ore, manganese, gold, nickel and, bauxite, tungsten, copper ore, tin, lead, zinc, uranium and chemical industries. Australia is the world's leading manufacturer of software for mining. Mining, which owns a large share of foreign capital, gives a third of the total industrial production of the country and has an export-oriented. Most profitable deposits in Australia are close to the surface. Australian minerals are exported to over 100 countries in the first place to Asia (Scott, Ranjith, 2010).

It is the world's largest exporter of coal, iron ore, bauxite, lead, diamonds and zircon concentrate. Australia is ranked 2nd in the world in exports of bauxite and uranium, and third place for the export of gold and aluminum. At the end of the 20th century, the largest sector is the coal mining industry, the share of coal for 10% of Australian exports; the second in by value is the aluminum segment. In 2008 the mining industry provided 10% of GDP in Australia, and the products of the industry are 22% of exports (Australia Uranium Mining Industry Analysis and Forecasts, 2010).

The Australian Government has introduced 30-percent profits tax on the extraction of mineral ...