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    August 26, 2020

    Iron ore becomes Australia’s $100bn export industry

    Commodities, Iron Ore Australia

    By Salomae Haselgrove| Australian Mining

    Iron ore is the first Australian commodity to crack $100 billion in annual export value, according to the Australian Government’s latest Resources Energy Quarterly report.

    Australian exports for the metal reached $101.7 billion in the 2019-20 financial year, smashing the previous annual export benchmark of $77.5 billion, which was also set by iron ore in the 2018-19 financial year.

    The Resources Energy Quarterly specified that while iron ore is normally vulnerable during downturns, like the current global downturn brought about by the COVID-19 pandemic, it has been resilient in recent months.

    The demand for Australian iron ore has been driven by China’s infrastructure boom, as well as a weaker Australian dollar, providing the Australian market with a lifeline during tough times…Full Story

    Japan is closing its old, dirty power plants – and that’s bad news for Australia’s coal exports India plans deep cut in thermal coal imports in coming years

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