Australian mining exports skyrocketed in December on the back of a surge in coal and iron ore shipments.
With commodity prices rising significantly over the past six months, Australian mining companies are taking advantage by lifting production and reopening mines around the country.
The latest Australian Bureau of Statistics (ABS) figures are starting to show evidence of this turnaround in the industry.
Coal and iron ore exports increased by 14 per cent and 10 per cent, respectively, against November figures, according to the ABS.
Australia’s trade surplus lifted to a high of $3.5 billion in December with the improved figures, a 72 per cent increase on the previous month.
Coking coal shipments were 46 per cent higher, or $798 million, while thermal coal was up 24 per cent, or $398 million.
Iron ore fines exports added 27 per cent, or more than $1 billion, during the month. Gold also jumped by 23 per cent to $1.7 billion.