Iron ore is Australia's most valuable and successful export commodity (see Figure 1). Throughout the 1990s and early 2000s, this mining industry played a key role in both the Australian and global economies. Change in the industry has been driven, in particular, by the many deals and movements resulting from globalization that have pushed Australian exports further than they have ever been. In 2007, “Australia produced approximately 16% of the world's iron ore and ranked third behind China (32%) and Brazil (19%)” (Minerals Council of Australia, 2008). Although Australia is not the largest producer, it is currently the largest exporter of iron ore in the world (Australian Minerals Industry, 2008). In 1997, Australia produced 158 million tonnes of iron ore. However, in 2007, this figure more than doubled, reaching a total of 320 million tons (US Geological Survey, 2008). Such a significant shift is partly attributed to the continued expansion and diversification of the industry's two key players, Rio Tinto Group and BHP Billiton, in the Pilbara region of northwestern Australia. Other sensitivities include, among others, environmental and social demands, technological advances and research and development. It should be noted that each of these factors can be traced back to a single title that exerts a great influence on industries around the world: globalization. “Figure 2” shows iron ore production levels in 2006-2007 and its export value compared to other mined minerals. The driving forces of globalization have a direct impact on the success of Australia's iron ore mining industry in terms of the national and global economies. BHP Billiton and Rio Tinto Group, both as transnational corporations (TNCs), have further increased industry sales and exports and reduced production costs using economies of scale. Mining expansion and the opening of new mines in the iron-rich areas of Queensland, New South Wales and Victoria have resulted in great benefits to the Australian economy and rapid national growth in the global economy. China, as the world's largest importer of Australian iron ore, is considered a major influence on the success of the industry. If China were to reduce its purchases of Australian iron ore and rely more on its own sources and those from countries such as Brazil, India or Russia, Australia's growth in the global economy would decline and the Australian economy would be disrupted to cause unexpected changes. sales problems. “The growth of China's economy and its demand for mineral resources, particularly base metals, iron ore and coal, continue to play an important role in Australia's exploration prospects.