Australia’s iron ore production up 13 percent in 2011

Wednesday, 14 March 2012 16:26:24 (GMT+2)

Australia's iron ore production increased by 13 percent year on year to 488 million mt in 2011, according to a report released by the Australian Bureau of Resources and Energy Economics (BREE.

In 2011, iron ore export volumes increased by nine percent year on year to 439 million mt, while export earnings from iron ore increased by 20 percent year on year to $59 billion on the back of of higher production and increases in average iron ore contract prices.

For 2011 as a whole, saleable black coal production decreased by two percent to 348 million mt, while exports of metallurgical coal decreased by 16 percent to 133 million mt, both year on year. The decline in metallurgical coal exports was the result of weather-related production losses in late 2010 and early 2011 in Queensland, where the majority of Australia's metallurgical coal is produced.

Meanwhile, in 2011 nickel mine production in Australia increased by 26 percent year on year to 212,000 mt, while the country's nickel export volume in 2011 remained unchanged compared to 2010 at around 217,000 mt. Nickel export values were also largely unchanged compared to 2010, at around $4 billion, due to relatively stable export volumes and Australian dollar nickel price.

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