Australia to see increase in iron ore exports

Australia to see increase in iron ore exports

The report released by the Australian Bureau of Agricultural & Resource Economics (ABARE) indicates that the country's iron ore export earnings will increase 72 percent to A$14 billion in the fiscal year ending June 30, 2006. In terms of volume, iron ore exports are expected to increase 17 percent to 267 million metric tons during the same period. Export earnings from coking coal are expected to increase 64 percent to A$17.7 billion this fiscal year. Higher export volumes and sustained high contract prices will contribute to the growth in the value of metallurgical coal. Coking coal exports are expected to reach 133.6 million metric tons this fiscal year, up 6 percent.