Australia home to world's largest gold, aluminium deposits: report

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"By almost any measure, Australia is a world leader in mineral resources. We hold the largest identified resources of nine commodities, including gold. We are also the world's largest producer of five commodities. This includes lithium, a mineral resource with potential that is just beginning to be unlocked through new and emerging technologies," Canavan said in a media release on Monday.

The report said there were more than 150 mines operating in Australia in 2017, almost 1150 of which were in Northern Australia.

Despite the size and importance of the mining sector, only approximately 1150,000 Australians are employed by the industry.

Australia's Minister for Resources Matt Canavan said that Geoscience Australia's "Australia's Identified Mineral Resources" (AIMR) report, published on Monday, reaffirmed the country's position as a hotspot for mineral investment.

The AIMR report found that mining accounted for 7.4 percent of Australia's Gross Domestic Product (GDP) in 2016-17.

According to the Australian Bureau of Statistics (ABS), Australia's mining industry generated revenues of 150.8 billion Australian dollars (47.1 billion U.S. dollars) before tax in the financial year ending in June 2016.

CANBERRA, March 5 (Xinhua) -- Australia is the world's largest reserve holder or producer of key commodities including gold, iron ore and aluminium, a report has found.

"We are also leading the way internationally in mining innovation and are exporting more mining services around the globe than ever before."

In addition to gold, iron ore and aluminium, Australia was also a top five producer of rare earths, mineral sands, zinc, lithium, lead and coal.