Australia’s department of industry’s quarterly report outlines a bonanza for the country with annual iron ore export values expected to peak at A$136 billion ($103 billion) in 2020–21 and stay above A$100 billion for the next five years. The strong earnings of Australian mines are thanks to new mines and expansion projects coming online, which […]
Australia expects to log a record A$136 billion ($103.85 billion) from iron ore exports this financial year, as global steel-making recovers after a Covid-19 led downturn, a government report revealed. The country’s most valuable economic export is expected to earn more than A$100 billion per year for the next half-decade as miners like BHP Group, […]
Pacific Investment Management Co. (PIMCO), which is seeking to decarbonise its investment portfolio, has stopped participating in the bond offerings of Adani Ports & Special Economic Zone Ltd. because of Adani’s links to a controversial coal project Australia. Pimco, which is owned by Germany’s Allianz SE, did not participate in Adani Ports’ $500 million bond […]
In February 2021, for the first time ever, Australia exported $8 billion more goods than imports for the third consecutive month. According to reports, Australia’s economy is heavily dependent on iron ore and its exports. Over the past year, iron ore made up 41 per cent of Australia’s total exports. While everything – including coal […]
Australia’s wheat exports to China are soaring despite frictions over trade and diplomacy between the two countries. China’s wheat imports from Australia in the first two months of the year rose by 479.3% more than the volumes in the same period a year ago, according to The South China Morning Post. Demand for wheat has surged […]
Floods in eastern part of Australia, affecting the states of New South Wales and Queensland, have impacted operations at coal mines in the region, stalled railway transportation, affected port schedules and disrupted supply chains in general, mainly for thermal coal exports. With weather conditions getting worse, companies and government officials were still assessing the impact, […]
A Japanese-Australian venture has begun producing hydrogen from brown coal in a A$500 million ($387 million) test project that aims to show liquefied hydrogen can be produced and exported safely to Japan. Japan’s Kawasaki Heavy Industries (KHI) is running the pilot project with government financial support from both Japan and Australia in the state of […]
Asia’s appetite for bullion is being tested by a global disruption in logistics that is still ongoing despite easing lockdowns, Padraig J Seif, partner at Precious Metals Asia, a leading Hong Kong-based bullion supplier told Indo Asian Commodities. With flights across the region far below capacities prior to Covid, air cargo rates for the precious metal have shot […]
World cotton consumption is expected to exceed production for the second year in a row, reducing world stocks by 3.2 million bales, the U.S. Department of Agriculture has said. World cotton production is expected to rise 4.7 percent with the most significant year-over-year growth in Pakistan, Australia, Brazil, the United States, and West Africa. Global […]
Australia said on Tuesday that a forecast of an all-time high $65.9 billion in production value this fiscal year confirmed that the agriculture sector was in the midst of an exceptional rebound from drought. Figures released by Department of Agriculture, Water and the Environment (ABARES) at the virtual Outlook 2021 conference revealed the industry is […]
