THE pay-off from the surge in resource investment is at hand, with rapid growth in export volumes now evident and set to continue for the next five years, far outweighing any weakness in prices.
Resource exports will earn Australia just under $200 billion in 2011-12 and will rise by a further $60bn over the next five years, the Bureau of Resources and Energy Economics has forecast.
Rapid growth in iron ore and coal sales will drive export growth over the next three years, and new liquefied natural gas plants will start to come on-stream from 2014-15, bringing gas to the forefront.
The Australian
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