01
Iron ores and concentrates
A $ 63.09bn Iron ores and concentrates brought in a total of $ 45.26bn ( A $ 63.09bn ) into the Australian economy in 2017 and made up 16.3 % of total exports . This marked a healthy 17.4 % increase from 2016 , when the industry made $ 38.57bn ( A $ 53.76bn ). The biggest iron ore mine in the country – and reportedly the seventh largest in the world – is Hamersley Basin , located in Western Australia , which has 1.72bn tonnes of proven and profitable iron ore reserves as investigated at the end of 2021 . Rio Tinto and BHP Billiton are responsible for about 90 % of all iron ore production in Western Australia , with Rio Tinto boasting a profit of $ 8.8bn ( AU $ 12.26 ) in 2017 .
83 www . businesschief . com