Metals News Hubb
Advertisement Banner
  • Home
  • News
  • Metallurgy
  • Contact
No Result
View All Result
  • Home
  • News
  • Metallurgy
  • Contact
No Result
View All Result
Gourmet News Hubb
No Result
View All Result
Home News

Australia revises up resources export earnings to $308 bln for FY23

admin by admin
December 18, 2022
in News


“Many Western nations are having to pay substantially more for energy, on the high chance that sanctions on Russia will see some Russian production — particularly gas and coal — become stranded from world markets,” it said.

The department had predicted an annual value of resources exports at A$450 billion, in its most recent September report. A weaker-than-expected Australian dollar exchange rate as well as high prices for thermal coal were the main factors behind the revision, it said. 

Iron ore, which is still Australia’s most valuable commodity export, is seen at A$113 billion this financial year, lower than the year ended in June when it stood at A$133 billion.

Ongoing strength in thermal coal prices are expected to see the biggest annual revenue growth at 65%, taking export value of the fossil fuel to A$76 billion from A$46 billion.

The value of liquefied natural gas exports is expected to hit $A90 billion from A$71 billion last financial year. 

However, amid slower growth in steel manufacturing, the value of metallurgical coal exports is expected to decline to $A57 billion from A$68 billion last year. 

Revenue for lithium exports is expected to jump to A$16 billion from A$5 billion a year earlier, as demand for the mineral used in batteries heats up. 

($1 = 1.4896 Australian dollars)

(Reporting by Melanie Burton; editing by Rashmi Aich).





Source link

Previous Post

Did Silver Beat Crypto?

Next Post

Norsk Hydro Teams Up With Mercedes-Benz On Low-Carbon Technology Roadmap – Aluminium Insider

Next Post

Norsk Hydro Teams Up With Mercedes-Benz On Low-Carbon Technology Roadmap – Aluminium Insider

Recommended

Metalco Planning US$2.7B Domestic Aluminium Smelter Partnership – Aluminium Insider

2 months ago

Alcoa Plans Restart At San Ciprián Aluminium Plant For 2023 – Aluminium Insider

4 months ago

A Look At Silver Demand

9 months ago

Market Sell-Off Continues; Gold/Silver Disconnect

8 months ago

Buy Signals Yet? – Silver Doctors

8 months ago

Gold, Silver, or Platinum in 2023?

5 months ago

© Metals News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • News
  • Metallurgy
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • News
  • Metallurgy
  • Contact

© 2022 Metals News Hubb All rights reserved.