Minerals exports have delivered a new record full-year trade surplus of $49.9 billion.
Tania Constable, Chief Executive Officer of the Minerals Council of Australia said the figures confirm the importance of the mining industry to the Australian economy.
Australia’s resources exports have doubled over the last 10 years. Ms Constable said a $250 billion of investment in the mining industry delivered substantial growth in minerals production and jobs in that period.
Record years for minerals commodities
The record export revenue has been driven by record years for several commodities including iron ore ($77 billion), coal ($69 billion), aluminium ($15.6 billion) and copper ($9.9 billion).
Iron ore was again Australia’s single largest source of export revenue for the year. It set a new record for a single month of exports in June ($9.5 billion).
These record exports enabled Australia’s resources sector to account for 58 per cent of Australia’s total export revenue in 2018-19.
“This record revenue will sustain Australia’s economic growth and continue to deliver the funding for teachers, nurses, police and other services on which Australians rely on while funding new infrastructure projects to keep Australia moving,” Ms Constable said.
A strong minerals industry creates a stronger Australia,” she said.
Minerals industry supports Australian manufacturing
Brain Industries Managing Director, Gillian Summers, agreed that a strong minerals industry helps Australian manufacturing.
Ms Summers said the sector is helping Newcastle based Brain Industries to expand its operations and provide local manufacturing jobs.
Brain Industries serves the minerals sector
She said Brain Industries is proud to serve the Australian mining sector to make it more efficient and profitable.
“We have a range of genius ideas to help miners to avoid downtime and work safely where conventional products fail,” Ms Summers said.
“Our Hydraguard system helps protect miners and other workers from potentially fatal fluid injection injuries.”
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