COMMODITIES – AUSTRALIA

Critical minerals exports set to soar past coal

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Original article by Elouise Fowler
The Australian Financial Review – Page: 6 : 3-Jul-23

The Department of Industry, Science & Resources has forecast that the value of Australia’s critical minerals exports will top $40bn by 2025. Demand for lithium and copper in particular is expected to be strong as the world transitions to clean energy sources. In contrast, the value of thermal coal exports is forecast to fall to $30bn in 2025, compared with expectations of $64bn for 2023; thermal coal prices rose sharply following the invasion of Ukraine, but are expected to fall back to around pre-invasion levels. Meanwhile, lower demand for steel in China is expected to result in the value of Australia’s iron ore exports falling to $93bn in 2024-25, down from $123bn in 2022-23.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES

Gas, coal and lithium drives export record

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Original article by Peter Ker
The Australian Financial Review – Page: 13 & 18 : 4-Oct-22

The Department of Industry, Science & Resources has forecast that the value of Australia’s commodity exports will rise to a record $450bn in 2022-23. It had previously forecast that revenue from commodity exports would fall to just $311bn in the current fiscal year, following a record $422bn in 2021-22. The revised forecast has been driven by expectations that the price of LNG, coal and lithium will stay high. Iron ore shipments are forecast to total $119bn in 2022-23.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES

China to halt key Australian imports in sweeping retaliation

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Original article by
Bloomberg – Page: Online : 4-Nov-20

Sources have indicated that Chinese traders have been ordered to cease buying at least seven categories of Australian commodities, amid growing tensions between the two nations. Traders are said to have been verbally told to stop buying Australian coal, barley, copper ore and concentrate, sugar, timber, wine and lobster from 6 November. However, iron ore is not believed to be included in the list of barred commodities at present. Chinese media reports have also suggested that a ban on Australian wheat will also be imposed.

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Resource exports face $40bn hit

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Original article by Jared Lynch
The Australian – Page: 13 & 16 : 28-Sep-20

Australia’s resources and energy exports rose to a record $290bn in 2019-20, driven by a rally in the iron ore price. However, the Department of Industry’s latest Resources and Energy Quarterly report forecasts that the nation will export just $256bn worth of commodities in 2020-21. The total value of resources and energy exports in 2021-22 is forecast to be $252bn. The Department expects a pullback in the iron ore price to around $US85 a tonne by the end of 2020-21; iron ore shipments are expected to fall to $80bn, after reaching a record $102bn in 2019-20. Meanwhile, gold export earnings are forecast to reach a record $31bn in 2020-21.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, SCIENCE, ENERGY AND RESOURCES

BHP calls for LNG-powered iron ore vessels

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Original article by Peter Ker
The Australian Financial Review – Page: 18 : 15-Jul-19

BHP is seeking to reduce the greenhouse gas emissions its products create once they have been acquired by its customers. As part of that effort, it has launched a tender that would see around 10 per cent of its iron ore exports to China transported in ships powered by LNG by around late 2021. BHP executive Rashpal Bhatti notes that LNG can achieve a 25 per cent reduction in greenhouse gas emissions when compared to low sulphur fuel oil.

CORPORATES
BHP GROUP LIMITED – ASX BHP

Export bonanza will not last long

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Original article by Perry Williams
The Australian – Page: 17 & 20 : 2-Oct-18

Revenue from Australia’s commodity exports will increase by 11 per cent in 2018-19 to a record $252bn, according to the Department of Industry, Innovation & Science’s latest quarterly report. However, revenue is expected to decline by five per cent in 2019-20, to $238bn. Revenue from iron ore exports is tipped to total $60.4bn in 2018-19, before falling to $56bn in 2019-20, as factors such as an increase in global supply and lower steel production in China weigh on the iron ore price. Coal export revenue is also expected to fall in 2019-20, although strong growth in LNG export revenue is forecast.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, INPEX CORPORATION, ROYAL DUTCH SHELL PLC, CHEVRON CORPORATION

Trade surplus heads back to $1b as iron ore shipments to China surge

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Original article by Stephen Letts
abc.net.au – Page: Online : 6-Oct-17

Australia has recorded a trade surplus of $A989m for August in seasonally-adjusted terms. This compares with a surplus of $A808m for July. The surplus was bolstered by strong growth in both the price of iron ore and the steel input’s export volumes, although shipments of coal and LNG were lower than in July. The total value of Australia’s exports rose by one per cent to $A32.2bn, while the value of imports was steady at $A31.2bn.

CORPORATES
JP MORGAN AUSTRALIA LIMITED

A fresh take on what we’re calling a crisis

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Original article by Laura Tingle
The Australian Financial Review – Page: 10 : 24-Jun-14

Forecasts of economic crisis after the investment phase of the mining boom could prove ill-founded, and the boom could prove less significant than thought. Reserve Bank of Australia board member John Edwards claims that other forces have often surmounted the impact of higher commodity prices on the domestic economy. Edwards notes that output grew faster in the decade preceding the resources boom than it has in the aftermath. He adds that rather than being complacent, Australians have been saving, investing, learning and working more

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIAN LABOR PARTY