China’s post-Covid economic growth helps rebound in operations at global mining firms

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Operations at global mining giants recovered well in the third quarter, helped by a pick up in China’s economy, after taking a huge hit earlier from the outbreak of the Covid-19 pandemic. China, the leading consumer and producer of metals, is expected to be the only major economy that will show positive growth this year. […]

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China’s sharp economic rebound seen helping Australia as demand for resources rise

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A sharp rebound in the Chinese economy – the world’s biggest consumer of resource and energy commodities – means Australia would benefit in a world battling with an overall economic contraction, a latest quarterly government report said. According to Australia’s Department of Industry, Science, energy and Resources, resource and energy commodity exports are likely to […]

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Falling prices, Covid uncertainty to temper Australia’s agri earnings

Agriculture’s crop-led recovery from drought remains on track but falling prices and global economic uncertainty from COVID-19 is forecast to temper earnings, the Australian Bureau of Agricultural and Resource Economics (ABARES) said in a statement. ABARES’ September Agriculture Commodities report forecast the gross value of production to stay unchanged at $61 billion despite a significant […]

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China’s demand for Australian coal and iron ore surges despite rising animosity

China’s surging demand for iron ore and coal worldwide has boosted Australian exports despite the rising animosity between the two countries. The surge illustrates a two-track trade relationship developing between the economies: imports critical to China’s infrastructure stimulus are climbing while trade bans are imposed on beef, barley and education, which can be sourced from […]

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Australia’s iron ore export earnings set to top A$100 billion in 2019–20, driven by higher prices; seen lower next year

Australia’s iron ore export values are estimated to have risen from $78 billion in 2018–19 to $103 billion in 2019–20, a government report said, due to strong prices and a low Australian dollar. However, export earnings are expected to drop to $81 billion by 2021–22. According to the report, iron ore prices have held up […]

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Australia says resource and energy export earnings to fall, but from record highs

The current global downturn triggered by the COVID-19 pandemic is affecting commodities in a wide variety of ways, but Australia’s overall export outlook is still relatively strong, a government report said, adding that export earnings are estimated to set an all-time record in 2019–20. The report by Australia’s Department of Industry, Science, Energy and Resources […]

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