Australia’s iron ore exports have declined following port shutdowns in Port Hedland due to cyclone concerns, according to Australian Bureau of Statistics (ABS) data.
Nickel prices on the London Metal Exchange have reached their highest point since September 2014 off the back of battery demand predictions in 2021.
The price of Australian iron ore fines has moved back above $US150 ($US196.31) per dry metric tonne after sharp falls in recent weeks.
Resources exports are guiding Australia’s recovery from the COVID-19 pandemic, with iron ore continuing to set new highs as prices reach lucrative levels.
China’s coal imports have dropped by 47 per cent in October compared with the corresponding period last year as trade tensions with Australia worsened.
A dip in the output of the resources sector caused by COVID-19 may have been sharp but it has also proven to be relatively short-lived, according to the Resources and Energy Quarterly September report.
Austmine has launched an initiative to help regional Western Australian mining equipment, technology and services (METS) companies increase their digital mining capabilities and global competitiveness.
OZ Minerals has signed a deal to export copper concentrate from its Carrapateena mine in South Australia through SIMEC Mining’s Whyalla Port.
Queensland’s resources sector has contributed 80 per cent of the state’s $83.3 billion exports value in the 12 months leading to February this year, according to data from the Australian Bureau of Statistics (ABS).
Australia’s resource and energy export earnings are forecast to set a record of $299 billion in 2019–2020 despite the impact of the coronavirus outbreak.
Japan was the largest consumer of Australian liquefied natural gas (LNG) in the 2019 financial year, followed closely by China.
Australia has delivered a new record full-year trade surplus of $49.9 billion off the back of impressive results from the nation’s resources sector.
The Australian Government’s outlook for commodities export earnings has attracted excited analysis as iron ore prices continue to ascend.
Australia’s resource export values are expected to hit $278 billion in 2018–2019, a “sizeable upward revision” due to an improved outlook for iron ore, according to forecasts by chief economist Mark Cully.
Robust coal exports in both New South Wales and Queensland prove market demand remains strong amid carbon emission concerns and decisions to abandon coal.
Coal companies are expected to turn away from mergers and acquisitions (M&A) this year to maximise the value of their existing assets on the back of high prices and a weaker Australian dollar.
Bathurst Resources has executed a joint venture deal with Perth-based Jameson Resources to finance the development of the Crown Mountain coking coal project in Canada.
Following the dispute between the Queensland Competition Authority (QCA) and monopoly network operator Aurizon over QCA’s latest draft ruling, the Queensland Resources Council (QRC) today announced that it will not come to the QCA in partnership with Aurizon under duress.
Coal is projected to emerge as Australia’s largest export earner, generating $58.1 billion for the 2018-19 financial year.
Mining industry organisations such as the Minerals Council of Australia (MCA) and Queensland Resources Council (QRC) have backed the Turnbull Government’s 2018 federal budget.