5 Top Australian Stocks in Mining

Interest in Australia as an investment hub is on the rise, and one area investors are looking toward is Australian stocks in the mining sector.

The country is viewed as a mining-friendly location, with many incentives and initiatives geared at helping companies move forward. But what are the top Australian stocks in the mining space? Below we run through the largest ASX-listed miners by market cap to give investors an idea of the landscape.

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Mining in Australia: Incentives and Initiatives

Australia is one of the world’s biggest mining hotspots, and that’s partially because the country’s government has given mining companies a good reason to explore down under: incentives.

While these incentives vary between the eight different Australian states and territories, they all help make the mining process easier and more beneficial for everyone involved. Companies are able to profit, and the government finds a strengthening economy.

For investors curious about what each area offers to mining companies, check out our list of Australia’s various incentives by state and territory.

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Argyle Diamond Mine Closure: What’s Next for the Sector in Australia?

Click here to read part one of this article, which covers the closure of the Argyle diamond mine.

When the mining equipment permanently shut down at Western Australia’s Argyle mine in November 2020, the country’s diamond sector entered a transitional period.

As the world’s fourth largest diamond-producing asset shuttered, domestic output of the gems instantly declined by as much as 90 percent.

The future of the Australian diamond-mining sector is now heavily reliant on exploration, with several companies vying to discover another formidable source of rare diamonds.

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Argyle Diamond Mine Closure: The End of a Sparkling Era

Pink and red diamonds are among the most special gems in the world. The value of these highly sought-after natural stones speaks for itself, but their rarity has arguably increased since the closure of Rio Tinto’s (ASX:RIO,LSE:RIO,NYSE:RIO) Argyle mine.

The asset, which ceased mining activity on November 3, 2020, had been in operation since 1983. In that time, 865 million carats of rough diamonds were produced.

The unique geological chemistry of the Western Australia location birthed the rarest hues, including champagne, cognac, blue, violet and of course, the coveted Argyle pink and red diamonds. Millions of carats of white diamonds were produced at the prolific property as well.

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ASX-Listed Diamond Stocks

ASX-listed diamond stocks have faced headwinds recently. In 2020, COVID-19 disruptions brought broad declines across the sector as many buyers chose not to make luxury purchases.

Although assets like gold, uranium and bitcoin rebounded fairly quickly, the diamond industry wasn’t able to pick back up until well into the second quarter of 2020.

Then, when coronavirus-related trends began to improve later in the year, Australia’s diamond industry was impacted by the closure of the renowned Argyle mine in Kimberley.

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