Jul 27 2020nbsp018332Iron ore is the first Australian commodity to crack 100 billion in annual export value according to the Australian Governments latest Resources Energy Quarterly report.
Iron ore is doing the bulk of the heavy lifting in keeping Australias resource exports buoyant with the report forecasting export volumes of 852 million tonnes in 2019 20 rising to 893 million in 2020 21 and 912 million the following year CreditBloomberg.
The Australian governmentx27s flagship resources report forecast that earnings from exports of resources and energy will reach a record 293 billion in the current fiscal year that ends on June 30.
Chinas dispute with Australia is so far skirting the biggest trade between the two countries iron ore But while some analysts are worried the dispute will extend there others say China will.
Jul 24 2020nbsp018332The iron ore miners have been doing much of the heavy lifting on the SampPASX 200 Index IndexAXJO as they are regarded as some of the safest stocks to buy during the COVID 19 mayhem.
The coronavirus pandemic has hit most commodities with the exception of the traditionally contrarian gold but the declines havenx27t been evenly spread with energy such as crude oil coal and liquefied natural gas LNG tending to fare worse than metals.
While Australia is the worldx27s largest exporter of LNG and coking coal and ranks second in thermal coal it is also the biggest shipper of iron ore and the worldx27s second largest gold producer.
It is iron ore that is doing the bulk of the heavy lifting in keeping Australiax27s resource exports buoyant with the report forecasting export volumes of 852 million tonnes in 2019 20 rising to 893 million in 2020 21 and 912 million the following year.
A slight drop in the forecast price from 78 a tonne in 2019 20 to 77 in the following fiscal year means the export value drops slightly from 103 billion this fiscal year to 97 billion in 2020 21.
The miner the worlds biggest by market value said it produced a record 257 million metric tons of iron ore from its Australian pits in the year through June aided by the ramp up of its newest operation Jimblebar BHP projected output of between 265 million and 275 million tons in its current fiscal year.
Sep 08 2020nbsp018332National iron ore exports are worth more than 100billion a year with Western Australia home to 98 per cent of Australias iron ore reserves meaning the state rakes in.
Jun 29 2020nbsp018332While Australia is the worlds largest exporter of LNG and coking coal and ranks second in thermal coal it is also the biggest shipper of iron ore and the worlds second largest gold.
BHPs iron ore shipments improved by 11 in the second quarter of 2020 against the weather impacted first quarter figures from the mining giant show.
Profits from iron ore line the pockets of the nations biggest miners and are vital to treasury coffers.
But Mr Carter says Port Hedland wasnt always an iron ore town Back then it was mainly wool that left the wharf.
May 19 2020nbsp018332Australias large iron ore players are up today At time of writing BHP Group Ltd ASX BHP increased by 4 59 Fortescue Metals Group Ltd ASX FMG is trading 4 07 higher and Rio Tinto Ltd ASX RIO is up by 3 85 Australia is the largest iron ore exporting country in the world followed by Brazil.
Sep 03 2020nbsp018332Australias iron ore mines are in demand Picture Supplied SourceSupplied Australian iron ore stocks are riding high as the price of the steelmaking commodity remains strong.
15 hours agonbsp018332The company recently signed a marketing agent for 50 per cent of its high grade iron ore from the Iron Ridge project in Western Australia and this week gave the project the green light Fenixs goal is to produce a high grade product approaching 65 per cent iron content from the mine which hosts a total resource of 10 5 million tonnes at 64.
Sep 03 2020nbsp018332Mr Gadd predicts Australia will supply about 43 per cent of the worlds iron ore in 2030 and about 60 per cent of the seaborne iron ore market.
Jul 07 2020nbsp018332China sources two thirds of its iron ore from Australia with this supply making up half of all iron ore consumed in China Introducing an import ban now would also hurt Chinas economic recovery just as the government is directing stimulus money into construction which will require greater output from Chinese steel manufacturers and.
May 21 2020nbsp018332Iron ore is Australias most valuable export to China worth A63 billion 41 billion annually Australian Trade Minister Simon Birmingham said the.
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