A recent report by Geoscience Australia predicts some rather short outlooks for some of Australia's precious metals and minerals.

The Report says that while diamonds are a girls best friend and last forever, by the time a girl born in 2011 reaches 20 years of age Australia will have no diamonds left unless new reserves are found.

Gold, Australia's third biggest mineral export, will be gone by the time the same lass turns 30, and Aussie silver and zinc will have run out as she hits 45, according to estimates from the national geological survey agency.

Maybe its about time we stopped exporting the stuff and stockpiled it for ourselves?