Melbourne (Platts): Australia's export earnings from iron ore increased 57% year on year to A$47 billion ($47 billion) in 2010 due to an 11% year-on-year increase in volume to 402 million mt and higher realized prices, the Australian Bureau of Agricultural and Resource Economics and Sciences said Thursday. Production of iron ore in the country increased 10% to 432 million mt over the same period, ABARES said in a December quarter production report.
Output in the December quarter increased 5% to 115 million mt from the September quarter and 7% year on year, due mainly to increased production by the country's three biggest miners Rio Tinto, BHP Billiton and Fortescue Metals Group, ABARES said.
But a 10% quarter-on-quarter increase in export volumes to 108 million mt in October-December was more than offset by a decline in contract prices over the same period, resulting in a 3% quarter-on-quarter fall in December quarter export earnings to A$13 billion. But the total was still 90% higher than in the December quarter of 2009.
Metallurgical coal exports were up 18% year on year at 159 million mt in 2010, with year-on-year increases in the first three quarters of the year partially offset by heavy rain in the December quarter that impacted production at some mines and operations at some port and rail infrastructure. December quarter output totaled 40 million mt, in line with the September quarter and up 3% year on year.
Earnings from metallurgical coal exports in full-year 2010 rose 19% year on year to A$30 billion.
Australia's copper mine production totaled 849,000 mt in 2010, in line with 2009, with an output decline at BHP Billiton's Olympic Dam mine in the state of South Australia due to a shaft failure offset by higher production at Xstrata's Ernest Henry operation in Queensland and Rio Tinto's Northparkes mine in New South Wales.
Refined copper production fell 6% year on year to 417,000 mt in 2010, reflecting lower production at Olympic Dam, but copper export volumes rose 7% to 845,000 mt over the same period, with an increase in imports of copper for further refining more than offsetting the decline in local production.
Supported by higher export volumes and prices, the value of Australia's copper exports increased 29% year on year to A$7.5 billion in 2010. In the December quarter, copper mine production totaled 222,000 mt, up 5% year on year but down 6% from the September quarter, while refined production at 120,000 mt was up 17% year on year and up 3% quarter on quarter.
In other sectors, Australia produced 261 mt of gold in 2010, up 17% year on year; 170,000 mt of nickel, up 3% year on year; 1.5 million mt of zinc, up 15% year on year; 1.928 million mt of aluminum, down 1% year on year; and 19.956 million mt of alumina, unchanged from 2009. Australia's overall export earnings from energy and mineral commodities totaled A$165 billion, up 25% year on year and a record for the country, ABARES said.
The total reflected continuing strong growth in demand from Australia's major trading partners such as China, Japan and South Korea, ABARES deputy executive director Paul Morris said in a statement.
The average index of export prices of energy and mineral resources increased by 13% year on year in 2010, supported by a 24% rise in the export price index for metals and other minerals.
Over the medium term, Australia's mineral and energy export earnings are projected to remain at historically high levels as expansions to production and infrastructure capacity support growth in the nation's exports, Morris said. By-Wendy Wells, Platts
Output in the December quarter increased 5% to 115 million mt from the September quarter and 7% year on year, due mainly to increased production by the country's three biggest miners Rio Tinto, BHP Billiton and Fortescue Metals Group, ABARES said.
But a 10% quarter-on-quarter increase in export volumes to 108 million mt in October-December was more than offset by a decline in contract prices over the same period, resulting in a 3% quarter-on-quarter fall in December quarter export earnings to A$13 billion. But the total was still 90% higher than in the December quarter of 2009.
Metallurgical coal exports were up 18% year on year at 159 million mt in 2010, with year-on-year increases in the first three quarters of the year partially offset by heavy rain in the December quarter that impacted production at some mines and operations at some port and rail infrastructure. December quarter output totaled 40 million mt, in line with the September quarter and up 3% year on year.
Earnings from metallurgical coal exports in full-year 2010 rose 19% year on year to A$30 billion.
Australia's copper mine production totaled 849,000 mt in 2010, in line with 2009, with an output decline at BHP Billiton's Olympic Dam mine in the state of South Australia due to a shaft failure offset by higher production at Xstrata's Ernest Henry operation in Queensland and Rio Tinto's Northparkes mine in New South Wales.
Refined copper production fell 6% year on year to 417,000 mt in 2010, reflecting lower production at Olympic Dam, but copper export volumes rose 7% to 845,000 mt over the same period, with an increase in imports of copper for further refining more than offsetting the decline in local production.
Supported by higher export volumes and prices, the value of Australia's copper exports increased 29% year on year to A$7.5 billion in 2010. In the December quarter, copper mine production totaled 222,000 mt, up 5% year on year but down 6% from the September quarter, while refined production at 120,000 mt was up 17% year on year and up 3% quarter on quarter.
In other sectors, Australia produced 261 mt of gold in 2010, up 17% year on year; 170,000 mt of nickel, up 3% year on year; 1.5 million mt of zinc, up 15% year on year; 1.928 million mt of aluminum, down 1% year on year; and 19.956 million mt of alumina, unchanged from 2009. Australia's overall export earnings from energy and mineral commodities totaled A$165 billion, up 25% year on year and a record for the country, ABARES said.
The total reflected continuing strong growth in demand from Australia's major trading partners such as China, Japan and South Korea, ABARES deputy executive director Paul Morris said in a statement.
The average index of export prices of energy and mineral resources increased by 13% year on year in 2010, supported by a 24% rise in the export price index for metals and other minerals.
Over the medium term, Australia's mineral and energy export earnings are projected to remain at historically high levels as expansions to production and infrastructure capacity support growth in the nation's exports, Morris said. By-Wendy Wells, Platts
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