Australia's ties with Asia cannot be overstated and when it
comes to mining, this is especially the case – an estimated
80 percent of Australia's mining exports go to Asia. Hundreds
of billions of dollars in sales are reported annually in the
resource-rich nation, but though the rewards can be substantial, so
too can be the compliance risks.
The second article for SEA View traverses some of the key
regulatory developments that mining industry participants need to
be aware of, both in Australia and further afield in Southeast
Asia.
The mining industry is a force to be reckoned with, playing a
prominent role in Australia's economy, accounting for seven
percent of its gross domestic product (GDP). Billions of dollars of
revenue are recorded each year, in 2018 alone, AU$127 billion of
mining and petroleum sales were reported just for the state of
Western Australia, with mineral commodities accounting for AU$92
billion.
