what is iron ore worth to the australian economy

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Record iron ore prices boost Australia's economy, but will ...

5/27/2021· Australia's iron boon. Iron ore is Australia's single largest export and Treasury predicts the value of that market will increase from $103 billion last year to $136 billion this financial year. Rachel Pupazzoni

Box B: The Recent Increase in Iron Ore Prices and ...

Iron ore prices have increased sharply in recent months. Developments in the global iron ore market are important for Australia's economy. Australia is the largest global producer and exporter of iron ore and in 2018 exported around 830 million tonnes of iron ore worth A$63 billion. This accounted for around 15 per cent of total exports by ...

Australia's economy is more reliant on iron ore than ever ...

3/24/2021· It is great for our economy that we have such a large supply of iron ore, but it also means Australia’s economic base has become very narrow – we are incredibly reliant upon iron ore exports to... Greg Jericho

Iron ore: supplying high-grade product to the world ...

Iron ore is Australia’s largest source of export revenue, worth $63 billion (approximately US$45 billion) in 2017.

Iron Ore | Geoscience Australia

12/31/2018· The Office of the Chief Economist reported Australia's iron ore 2018 exports at 835 Mt, a 1% increase on 2017 figures of 827 Mt 14. China, Japan and Korea remain major importers of Australia's iron ore products. The Office of the Chief Economist projects that iron ore exports will continue to increase, reaching 996 Mt in 2024-25 15.Table 1: Operating Mines | Geoscience Australia12/31/2018Iron | Geoscience Australia 4. Projects | Geoscience Australia Table 3: Mineral Resources | Geoscience Australia