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Global Business and Strategic Concepts for Australias Minerals

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Australia has been a leading producer of mineral globally. It has since been known for producing nearly 19 minerals that are associated with nearly 400 operating mines. Australia must take mining serious since it is the country’s economic backbone (Wild, and HAN, 2003. Pg. 17). Nearly all the states in Australia have minerals. Despite the availability of several minerals, this essay aims at addressing the economic effects of coal as one of Australia’s mineral (Cavusgil, Knight, and Riesenberger, 2008. Pg. 102). Such effects are to be analyzed domestically and internationally. It is worth noting that minerals form nearly 7 per cent of Australia’s GDP. Notably, according to Australia’s Bureau of Statistics, the mining industries have directly employed over 263 thousand people. Other than the domestic advantages, Australia’s minerals are also exported (Beattie, 2002). Some of the mineral exported from Australia include oil and gas that were exported in the year 2011 and 2012 at a tune of $164 billion (Daniels, Radebaugh, and Sullivan, 2009). These figures accounted for nearly 52 per cent of Australia’s total exports. The same translated to nearly 62 per cent of the merchandise exports (Villas-Bo?AS, and Beinhoff, 2002). It worth noting that the Australian market specifically it mining industries usually enjoys free global economies including free global markets where they export their products in large scale (Haldar, 2013). Some of the major international markets for Australia’s mineral products include Japan, India, South Korea, and China. According to the international ranking, Australia is usually considered as the top global mineral producer and it has the largest inventory resources that form the fundamental mineral commodities (Mintzberg and Lampel, 2009. Pg. 92). However, it does not lead in the production of all mineral commodities. therefore, there are opportunities in the mineral that it produces in small scale particularly when it raises its scale of production on the same. Coal is among lowly exploited mineral by Australia. hence, it is vital to determine whether how Australia can raise its game in the production of coal towards boosting its domestic and international markets on the same product. In Australia’s list of major export categories, Coal among other minerals including aluminium and copper fall fifth (Mintzberg and Lampel, 2005). Coal is used for different purposes. therefore, to boost its sales, Australia needs to intensify its marketing research on coal and its demand with different global economies towards increasing its sales in these countries. Introduction Mineral coal is a natural resource that only needs proper and effective equipment and labor to exploit effectively. Notably, Australia has an intense comparative advantage in mineral commodities production. This emanates from its rich and diverse endowment of minerals as well as high quality and scaled regional information geoscience (Mintzberg and Lampel, 2009. Pg. 281). The intense understanding of geoscience reduces risks of exploitation of mineral in Australia. Additionally, Australian mineral exploiting industries are also enjoying advance exploration techniques that ensure maximum exploitation. They also have advance mining and processing technologies with highly skilled labor that has intensive experience (De Wit and Meyer, 2010. Pg. 133).