Issues in Global Business and Strategic Concepts Essay - 3

Issues in Global Business and Strategic Concepts - Essay Example132). Nonetheless, Australia has been a leading producer of mineral internationally. It has sense been known to producing nearly 19 minerals that are associated to nearly 400 operating mines. Australia must take mining serious since it is the countrys economic backbone (Wild, and HAN, 2003 Pg. 17). Nearly all the states in the Australia have minerals. Despite the availability of several minerals, this essay aims at addressing the economic effects of coal as one of the Australias mineral (Cavusgil, Knight, and Riesenberger, 2008 Pg. 102). Such effects are to be analyzed domestically and internationally. It is worth noting that minerals form nearly 7 percent of the Australias GDP. Notably, according to the Australias bureau of statistics, the mining industries have directly employed over 263 thousand people. Other than the domestic advantages, Australias minerals are also exported (Beattie, 2002). some(prenominal) of t he mineral exported from Australia include oil and gas that were exported in the year 2011 and 2012 at a tune of $164 billion (Daniels, Radebaugh, and Sullivan, 2009). These figures accounted for nearly 52 percent of the Australias append exports. The same translated to nearly 62 percent of the merchandise exports (Villas-Bo?AS, and Beinhoff, 2002). It worth noting that Australian market specifically it mining industries usually enjoys free global economies including free global markets where they export their products in large scale (Haldar, 2013). Some of the major international markets for the Australias mineral products include Japan, India, South Korea, and China. According to the international ranking, Australia is usually considered as the top global mineral producer and it has the largest inventory picks that form the fundamental mineral commodities (Mintzberg and Lampel, 2009 Pg. 92). However, it does not lead in the production of all mineral commodities therefore, there are opportunities in mineral that it produces in small scale particularly when it raises it scale of production on the same. Coal is among lowly exploited mineral by Australia hence, it is vital to determine whether how Australia can raise its game in the production of coal towards boosting its domestic and international markets on the same product. In the Australias lean of major export categories, Coal among other minerals including aluminum and copper fall fifth (Mintzberg and Lampel, 2005). Coal is used for different purposes therefore, to boost its sales, Australia needs to intensify its trade research on coal and its demand with different global economies towards increasing its sales in these countries. Introduction Mineral coal is a natural resource that only needs proper and effective equipment and labor to exploit effectively. Notably, Australia has an intense comparative advantage in the mineral commodities production. This emanates from its rich and diverse endowment o f minerals as well as high quality and scaled regional information geoscience (Mintzberg and Lampel, 2009 Pg. 281). The intense understanding of geoscience reduces risks of exploitation of mineral in Australia. Additionally, Australian mineral exploiting industries are also enjoying advance exploration techniques that ensure that maximum exploitation. They also have advance mining and processing technologies with highly skilled labor that has intensive stimulate (De Wit and Meyer, 2010 Pg. 133). Additionally, the mineral exploration physical conditions are