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The mining industry, long an important factor in the social and economic growth of Australia, holds great promise for the future development of the country. The gold discoveries of the 1850s were responsible for the first wave of immigration and for settlement of inland areas. Today, Australia is self-sufficient in most minerals of economic significance, and in a few cases is among the world's leading producers. Annual Australian production of coal, oil, natural gas, and metallic minerals was valued at about $12.4 billion in the early 1990s. Metallic minerals accounted for more than two-fifths percent of the total, with gold and iron ore the most significant components. Western Australia had the largest share of total mineral production, especially of metallic minerals.
Australia accounted for some 13 percent of the world's gold production in 1997......
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