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Coal leads Australian mining to 2018 export record

Australia’s resources exports delivered a record $248 billion in revenue in 2018, according to the Australian Bureau of Statistics (ABS) data.

The $248 million figure accounted for 72 per cent of Australia’s goods exports overall.

Coal was the highest earning export commodity for the year, accounting for $66 billion in export revenue, bolstered by improved prices and and volumes driven by demand from large Asian markets.

Two hands holding coal

For example, between November and December last year, China showed strong overall demand across all coal categories — hard coking, semi-soft and thermal — while Japan showed heightened demand for hard coking coal and thermal coal.

However, drops in demand were recorded in the same time frame for semi-soft coal in Japan, while India’s demand for hard coking coal also fell.

Queensland accounted for more than half of the nation’s $66 billion in Australian coal export revenue recorded in 2018, with $35.7 billion.

In turn, this $35.7 billion figure accounted for roughly 43 per cent of Queensland’s commodities exports overall.

Queensland Resources Council (QRC) chief executive Ian Macfarlane said 2018’s export records were buoyed by the resources sector and would deliver benefits. Read more…

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