Australian iron ore coking coal and steam coal exports to hit record

Tuesday, 01 Mar 2011

The Australian Bureau of Agricultural and Resources Economics and Sciences predicts the increase in its annual outlook of the mining

1. Iron ore exports will climb another 12% next financial year, to a record AUD 63.1 billion.

2. Exports of metallurgical coal are tipped to increase another 22% to AUD 41.9 billion.

3. Export of steam coal will rise by 28% to AUD 19.3 billion.

4. Gold exports are tipped to increase 12% to AUD 16.8 billion.

Mr Phillip Glyde ED of ABARE said the story for the coming year was again the strength of the minerals and energy sector. He said “We’re going to export close to a quarter of a trillion dollars, which is a new record for commodity exports. Records will continue to be broken.”

Total commodity exports for 2011-12 are forecast to reach AUD 251.3 billion. In 2010-11 they are forecast to be AUD 220.6 billion, while the previous year they reached AUD 171 billion.

(Sourced from thewest.com.au)