“Australian Commodities”, released this week, predicts a positive outlook for the minerals and energy sector.
Substantial increases in coking coal contract prices negotiated for the Japanese 2005-06 fiscal year will drive a 57% increase in coking coal earnings to $A18.2 billion, while thermal coal exports will rise by 16% ($A1 billion) to $A7.5 billion in 2005-06.
Total earnings from minerals and energy exports will jump 23% to $A84.8 billion thanks to significant gains in coal and iron ore prices.
Australian mine production is expected to jump 8% next year, following an estimated 5% rise in 2004-05. Australian coal output will rise by around 5% as port capacity comes on stream, Abare said.
Iron ore exports will rise by 60% to $A13 billion, following on from a 53% increase in 2004-05.
