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SYDNEY: Australian exports of iron ore and coal hit record levels in the final quarter of last year thanks to strong demand from Asia, official figures showed.
Iron ore exports reached 98 million tonnes and coal shipments passed 74 million tonnes, mainly to South Korea, Japan and China, the Australian Bureau of Agricultural and Resource Economics (ABARE) said.
"The record volumes of bulk commodity exports in the December quarter were underpinned by demand from steel mills and power stations in Japan, the Republic of Korea and China," said ABARE deputy executive director Paul Morris.
Australian officials have forecast a new mining boom lasting years, if not decades, thanks to the mass industrialisation and urbanisation projects under way in some Asian countries.
The record exports came despite a nine per cent rise in the value of the Australian dollar, ABARE said in its report released on Thursday.
Energy and mineral export earnings rose one per cent to A$31 billion (US$28 billion) in the quarter, it added.
- AFP/sc
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