Uncovering Australia’s -...
Transcript of Uncovering Australia’s -...
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
Japan-Australia Mineral Resources Investment Seminar 2012
Uncovering Australia’s
mineral resource potential
Andy Barnicoat Chief, Minerals and Natural
Hazards Division,
Geoscience Australia
Tokyo, 12th November 2012
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
Resource supply and demand
Asian demand Australian supply
Beijing Pilbara
Energy
Minerals A$b Australian export earnings
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
Japan’s mineral imports:
volume share by country
R KOREA
CHINA
PHILPIN
INDNSIA
INDIA
PAKISTN
RUSSIA
UKRAINE
CANADA
CHILE
BRAZIL
S AFRCA
AUSTRAL
NEWZELD
CHINA
TAIWAN
VIETNAM
INDNSIA
RUSSIA
CANADA
USA
MEXICO
COLMBIA
MOZAMBQ
S AFRCA
AUSTRAL
NEWZELD
PHILPIN
INDNSIA
CANADA
USA
PERU
CHILE
ARGENT
AUSTRAL
PAP NGA
Australia supplies 35% (by value) of Japan’s total imports of metalliferous ores (Japan Ministry of Finance, 2012 for 2011-2012 fiscal year)
Copper
Coal Iron ore
R KOREA
CHINA
VIETNAM
INDNSIA
INDIA
UKRAINE
CANADA
SIERLEO
S AFRCA
AUSTRAL
Titanium
Australia Australia
Australia
Peru
Chile
Austr.
India
Indonesia
Brazil
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
$41.9b $113.7b
$32.8b $76.0b
Mineral
resources
Energy
(incl. coal)
$6.3b
$14.8b
$12.8b $28.9b
Australia’s mineral and energy
export markets: Japan is key
Source: Bureau of Resources and Energy Economics, 2012
Japan Japan
Japan Japan
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
Source: Bureau of Resources and Energy Economics, 2012
Japan
Thermal coal
Japan: a major importer of
Australian coal
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
Japan: a major importer of
Australian iron ore
Source: Bureau of Resources and Energy Economics, 2012
Japan
Iron ore
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
Japan: a major importer of
Australian copper
Source: Bureau of Resources and Energy Economics, 2012
Japan is also a major importer of
oil, gas, aluminium from Australia
Japan
Copper
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
Australian minerals and energy
commodities production
Energy
Minerals
Superpit gold mine, Kalgoorlie
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
Australia’s mineral and energy
resource investments: value in $AUD
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
Australian exploration
projects
1352
1126
626
203
680
649
172103
122
6211666
834
379
82
27
49
40
24
7
341
296
10059
0
500
1000
1500
2000
2500
3000
3500
Au Cu Coal U REE Ni
Feasibility
Advanced
Exploration
Grassroots
0
500
1000
1500
2000
2500
3000
3500
Au Cu Coal U REE Ni
Feasibility
Advanced
Exploration
Grassroots
Number of exploration projects by stage of development
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
Australian resources growth
1977-2010, and world rankings
Commodity
Total
production
Growth in resources
cf. production*
Resources#
World ranking
Iron ore 5,000 Mt 6.8x 2
Black coal 8,000 Mt 22x 5
Gold 6,000 t 3.2x 1
Copper 16 Mt 8.3x 3
Nickel 5 Mt 9.4x 1
Zinc 31 Mt 2.2x 1
Sources: Resources - Geoscience Australia;
Production - Australian Bureau of Agricultural and
Resource Economics
* All categories:- Measured + Indicated + Inferred Resources # Economic Demonstrated Resources (EDR)
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
see next image
Source: Australian Bureau of Statistics
Australian mineral exploration
expenditure to June 2011
Exploration spending (A$ million, 2010-11 $)
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
Mineral deposit discoveries:
Australia vs the World
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
(0.5 vertical derivative)
Is Australia ‘mature’ for
mineral exploration? NO!
1. Extensions to known mineral provinces
2. Entirely new provinces
3. Opportunities at depth
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
Australia’s commodity
inventory
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
Australian exploration
projects
1352
1126
626
203
680
649
172103
122
6211666
834
379
82
27
49
40
24
7
341
296
10059
0
500
1000
1500
2000
2500
3000
3500
Au Cu Coal U REE Ni
Feasibility
Advanced
Exploration
Grassroots
0
500
1000
1500
2000
2500
3000
3500
Au Cu Coal U REE Ni
Feasibility
Advanced
Exploration
Grassroots
Number of exploration projects by stage of development
NEW nickel-copper province
2 holes hit more than 60m true width of 3.4% nickel and
1.3% copper
Discovery hole co-funded
by SA government
Deposit buried under 450m
cover
Over 40 uranium projects looking seeking JV partners or
purchasers
New uranium resources
announced since November
2011 include
Marmota Energy JORC
Junction Dam (SA) inferred
resource of 1510 tonnes of
U3O8
Mindax Ltd Yilgarn-Avon JV
(WA) inferred resource of
1469 tonnes of U3O8
Marmota Energy, Junction Dam
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
1:1m Surface Geology
National datasets to support
exploration
Geoscience Australia is a federal government agency,
delivering fundamental national & regional datasets
to reduce risk in exploration targeting
Gravity
Radiometrics
Magnetics Data from State/NT Geological
Surveys and GA
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
Australia: More to discover downunder!
• Geological potential is high – Many opportunities; proven record of
discovery; wide range of commodities
• Supportive governments – State/NT exploration incentive schemes
– National and State/NT free digital data
– Partnerships with investors
• Low sovereign risk – Australia is 7th lowest risk in World
Japan-Australia Mineral Resources Investment Seminar 2012, Tokyo
For more information, and free national and regional geoscientific datasets, visit:
www.ga.gov.au/minerals
www.geoscience.gov.au/
Australia:
More to discover downunder!