The worst times seem to be behind Australia's mining industry now. It has once again been labeled the top investment location for miners. The country's mining industry has faced enormous pressure from a struggling economy. Putting further pressure on the miners was the continuous reduction in mineral prices. But now, things seem to be bouncing back.

Mining has always been a huge part of  Australia’s industry, and it’s not hard to figure out why. The soils there are enriched with minerals that are valuable. After being processed, they can be sold on the world market. A strong mining industry has caused Australia's GDP growth average of 3.6 percent a year. That’s a huge climb. One that has helped Australia remain one of the wealthiest economies in the world. It’s interesting to note what allowed Australia to succeed in mining where others failed.

Highly Skilled Workforce

For decades, the mining industry in Australia has caused levels of immigration to surge. Investors and workers have moved there to make their living in this particular industry. This has helped the industry grow and develop. Skilled employees and business owners who know how to work in the modern climate have pushed the industry forward. But it’s not just those working in the mines who have propelled the success of this industry.

Business owners have also been able to rely on scientific analysis for the civil, mining and industrial sectors. Miners have been able to get the most from the natural minerals present within the country's soils.

Government Support

Many have also praised the Australian government for their actions. They believe the government was the main force that kept the mining industry profitable. One factor that has certainly proved valuable for miners is the transparent policies that they have been able to understand. This and clear legal rules and regulations has made mining in Australia easy, particularly for new businesses. It’s allowed the growth of the industry while ensuring actions by owners were kept above board.

Cost Cutting

That's not to say it hasn’t been a challenge to keep the mining industry in Australia financially strong. It has, and many of the bigger businesses have been forced to cut costs where possible. Some reduced the level of employees while others had to rely on outsourcing. There were, even more, companies that needed to downsize. They were forced to do this to stay competitive.

The good news is that the worst now does appear to be behind them. Companies can start to once again build up their numbers. Then the mining industry can continue to be a driving force in Australia's economy.

New tech and machinery will certainly help with this next challenge that miners are going to face. With the latest technology, mining methods should become more efficient. Miners can buy new diggers and other machines for harvesting the minerals at a faster rate. This will lead to reduced costs in the long run. With fresh hope for this industry, miners can look forward to brighter days ahead.