SYDNEY, Sept 20, 2011 (AFP) - - Australia on Tuesday forecast record mining earnings of Aus$215 billion (US$219.5 billion) for 2011-12 due to booming iron ore and steelmaking coal prices and project expansions.
The Bureau of Resource and Energy Economics said mining and energy export earnings would jump 21 percent in the 12 months to June 2012 as iron ore grew 26 percent to $68 billion and coking coal put on 29 percent to $37 billion.
"The 21 percent increase in resources and energy export earnings reflects strong increases for most commodities including coal, iron ore, oil and gas, base metals and gold," said bureau chief Quentin Grafton. Read More
The West Australian
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