8415.0 - Mining Operations, Australia, 1997-98  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 29/10/1999   
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  • Profits up 6% for the mining industry in 1997 98 - ABS (Media Release)


November 29, 1999
Embargoed: 11:30 AM (AEST)
Profits up 6% for the mining industry in 1997 98 - ABS

The mining industry's main activities - coal, gas and oil extraction, and metal ore mining - recorded a 6% increase in profits in 1997-98 to $19.6 billion, according to figures released today in a new publication by the Australian Bureau of Statistics (ABS).

Direct employment by mining companies fell by 9% to 50,875 persons at 30 June 1998. In contrast, contract mining expenses increased by 26% to $2.9 billion, with most of the increase occurring in the gold mining industry.

The metal ore mining industry was a major contributor to profits, recording a 9% increase in 1997-98 to $6.8 billion. This was primarily due to an increase in the value of sales and new mines coming on stream in the iron ore and copper mining industries. Profits for the coal mining industry also rose by 9%, to $5.2 billion, mainly as a result of increased production which offset the effects of lower prices. Total profits in the oil and gas extraction industry increased by almost 1% to $7.6 billion.

Value added nationally was $23.8 billion in 1997-98. The largest contributor to value added in the mining industry was the oil and gas extraction industry, accounting for 37% of the total in 1997-98 with $8.7 billion. The coal industry was the second largest contributor, accounting for 28% of the total with $6.7 billion.

Total net capital expenditure in 1997-98 increased by $3.1 billion, or 61%, to $8.3 billion, with increases in most industries. Net capital expenditure in the metal ore mining industry doubled to $5.3 billion as a result of new mine development and upgrades to plant and machinery at other mines. The oil and gas extraction industry recorded an increase of $511 million, or 38%, to $1.8 billion. In the coal mining industry net capital expenditure fell by 3% to $1.1 billion.

Further details are in Mining Operations, Australia (cat. no. 8415.0) available from ABS bookshops. A summary of the publication is available from this site. The ABS encourages media organisations with online news services to link to the summary. Please phone us if you need assistance to do this.