The paper "Comparison of Mining in Australia and New Zealand" is a good example of a macro & microeconomics case study. Mining is a major economic activity that has the potential to transform economies as it has done with the likes of Australia and South Africa amongst other countries in the world (Ergas, Harrison & Pincus, 2010). However, not all the countries that have mineral deposits are able to benefit from them, as it is witnessed in several countries in the world for instance in Congo and Nigeria in Africa, Middle East countries amongst other states in the world.
One of the main factors which lead to this ironic scenario is the establishment of inappropriate policies and laws to govern the mining and natural resources industry. The better the mining policies are in a country, the more the country is able to benefit from its mineral resource. In order to expound on this, the following assessment paper will discuss how the Australian and New Zealand governments develop industry policies in the mining industry. The paper will also discuss the existence of interest groups in the two countries and their influence on the mining industry in their respective countries.
The paper is being done as an assessment assignment in the unit ‘ Government – Business Relations’ . Australia is one of the largest iron ore and coal. The country is rich in a wide range of mineral deposits and mining is one of the major economic activities of the country. Among the minerals which the country has includes iron ore, silver, coal, petroleum, natural gas, diamond, gold, bauxite/aluminum, zinc, copper, nickel, opal, uranium and rare earth (Australian Government, 2012a).
From this big list, it is evident that the country is very rich in mineral resources. So as to ensure that the country is able to benefit from the large deposits of minerals, it is necessary for the government to establish appropriate policies and legislation. The country mineral resources are managed by the government via the ministry of energy and mineral and other government departments (Cullen & Peterson, 2012). The policies and the legislations of the country are made by the government.
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Australian Government, (2012b). EPBC Act Environmental Offsets Policy, Retrieved on 11th October 2012 from http://www.environment.gov.au/epbc/publications/environmental-offsets-policy.html
Australian Government, (2012c). The Great Barrier Reef Queensland, Retrieved on 11th October 2012 from http://www.environment.gov.au/heritage/places/world/great-barrier-reef/whc-concerns.html
Cullen, R., Peterson, D., (2012). Mineral and Energy Policies, Australian Journal of Agricultural and Resource Economics, 56(2), 149-151
Ergas, H., Harrison, M. & Pincus, J. (2010). Some economics of mining taxation. Economic Papers of the Economic Society of Australia, 29 (4), 369-389.
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