PERTH (miningweekly.com) – New data by the Australian Bureau of Statistics (ABS) has revealed record high export revenue from iron-ore, gold and copper in 2020.

The ABS revealed that Australia’s resources exports, including minerals, metals and energy commodities, in 2019 generated A$270 billion in export revenue for the economy and accounted for 62% of total export revenue.

Iron-ore increased by 20% in 2020, to reach A$116-billion, breaking the A$100-billion export revenue ceiling for the first time in a boom calendar year for commodity exports.

The last month of 2020 recorded A$12.6-billion in iron-ore export revenue, breaking the previous record of A$11.2-billion in October 2020.

The Minerals Council of Australia (MCA) this week revealed that the future for Australian iron-ore remained strong, with Chinese demand expected to continue, along with increased demand in South and East Asia.

“The iron-ore industry is well positioned as a low-cost producer of world-class iron-ore to supply Asia’s high efficiency large steel mills,” MCA CEO Tania Constable said on Friday.

Meanwhile, the ABS results showed that gold and copper exports also set new revenue records following several years of significant exploration investment.

Gold exports were up 12% in 2020 and totalled A$27-billion as a result of high prices and growing production across the country, up from the A$24.2-billion in revenue reported in 2019, while copper export revenues increased from A$10.2-billion to A$10.4-billion in the same period.

“During a very challenging 2020, the Australian minerals industry drove prosperity in Australia, making substantial contributions to investment, exports, wages, jobs and government revenue,” Constable said on Friday.

“There are 240 000 people directly employed by the resources sector and a total of 1.1-million direct and indirect jobs in the mining and mining equipment, technology and services sectors.

“Mining companies also support thousands of regional businesses around Australia and their workers who provide essential services that keep the industry operating.

“In addition to new jobs across the nation and paying its fair share of taxes and royalties, the mining industry also supports local communities through backing local businesses through the Covid-19 pandemic and donations to hospitals, charities, child care centres and schools.”