Original article by Phillip Coorey, Stephen Cauchi
The Australian Financial Review – Page: 1 & 4 : 2-Dec-15

The Australian Government’s May 2015 Budget was based on expectations that the spot price of iron ore price would average $A48 per tonne for the calendar year. However, its average price in the year to date has been less than $US47 per tonne, and ore with 62 per cent iron content delivered to China’s port of Qingdao recently fell to $US42.97 per tonne. The downturn in the iron ore price will affect revenue forecasts in the upcoming Mid-Year Economic and Fiscal Outlook, as well as the Government’s timeframe for achieving a Budget surplus.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN LABOR PARTY, ROY HILL IRON ORE PTY LTD