Victoria’s gold fever of the 1850s has long since subsided, but thanks to
its heritage, the state’s capital Melbourne, along with London and Toronto,
is today one of the world’s big three global mining centres, says Campbell
Jaski, mining consultant and partner at PPB Advisory.
Melbourne has long been the spiritual home of Australian mining. While this is a legacy of the Australian gold rush of the 19th century, today this dynamic and rapidly growing industry has a truly global focus, and the city’s resources giants are driving a wave of foreign investment both locally and around the world.
Mining is big business in Australia. The resources sector represents more than 10 per cent of Australia’s GDP and employs over 300,000 people locally, generating over A$170 billion in annual exports.
And Melbourne is the heart of the action. Victoria-based companies constitute over 60 per cent of Australian mining by ASX 100 market capitalisation, and 80 per cent by revenue. More than 100 major mining and related companies call Melbourne home, and the city hosts the head offices of heavyweights such as BHP Billiton, Newcrest Mining, MMG and mining services giant Orica amongst many others.
Victoria’s gold fever of the 1850s has long since subsided, but thanks to its heritage the state’s capital Melbourne, along with London and Toronto, is today one of the world’s big three global mining centres, says Campbell Jaski, mining consultant and partner at PPB Advisory.
“Melbourne has historically been the home base of many big mining houses, and of internationally renowned senior executives such as the Hugh Morgan’s and the Owen Hegarty’s of this world,” says Jaski. “They attract big investment opportunities. That then flows through to requiring a service hub to support those projects.”
As miners look ever further afield for elusive deposits, exploration and mining operations increasingly take part in remote corners of the world. But all the technical expertise, strategic management and financing is delivered out of first-world hubs such as Melbourne, says Jaski.
“These days Melbourne is not at the heart of the operational environment, but we are at the heart of the strategic and financial environment.
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