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Reuters
Reuters
Business

Exports of Australia's resources hit record $196 billion in 2019 - Minerals Council

Buoyant iron ore prices lifted Australian exports of minerals, metals and energy commodities to a record A$290 billion ($195.72 billion) in 2019, a jump of 17% from the 2018 record, the Minerals Council of Australia (MCA) said on Thursday.

Iron ore - Australia's biggest export earner - reaped a record A$97 billion, the MCA said, based on an analysis of data from the statistics bureau, after prices rallied 28% over the year, following a Brazilian dam disaster that hit supply.

Combined exports of steel-making coal and thermal coal came in at A$65 billion, gold earned Australia A$24 billion and copper exports accrued A$10 billion, the MCA said in a statement.

The council did not provide separate figures for exports of liquefied natural gas (LNG) exports, another key earner.

"Mining provides the economic bedrock for the Australian government to meet its immediate and long-term challenges," Chief Executive Tania Constable said.

"The MCA is focused on making mining safer, more sustainable and more accountable, so it can continue driving economic growth and giving back to the community."

(Reporting by Melanie Burton, Editing by Sherry Jacob-Phillips)

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