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Interesting read - Ivan Glasenberg places a dirty $36B bet: Chris Bryant


With international delegates meeting in Poland this week to debate the unfolding planetary climate emergency, itÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s tempting to view the marketÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s thumbs down on coal as ethical. Glencore talks a lot about the copper and cobalt it will supply for electric vehicles, but itÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s made a huge bet on carbon. Some sustainability-minded investors wonÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢t touch Glencore's shares for this reason, but thatÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s probably not why the coal business has been marked down. Rather, investors worry that high thermal coal prices arenÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢t sustainable. ItÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s possible theyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢re wrong about that. Glasenberg certainly thinks so.


Corporate boards and banks are increasingly unwilling to sanction or finance new coal mines, meaning thereÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s a dearth of new supply. ThatÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s a huge advantage for miners that refuse to quit the coal game. In particular, Glencore profits from the premium that utilities pay for higher grade coals. With India and China constructing lots of new coal capacity, demand isnÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢t about to fall off a cliff either, whatever climate campaigners hope.


In the long run, high prices may end up dooming coal, as my colleague David Fickling has argued. But GlencoreÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s coal business should be a license to print money for several more years. If Glasenberg is right, his shareholders will be swimming in cash, even as our oceans creep higher.



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Australia plans deal with U.S. on 'critical minerals', hopes to boost its exports

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“This week I will sign a letter of intent with my counterpart ... on critical minerals,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ resources minister Matt Canavan said at a mining industry event in Melbourne.


ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“(This) will mean Geoscience Australia and the United States Geological Survey (USGS) will work closely on exploration, extraction, processing and research and development,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ he added, referring to the arms of the respective governments that handle minerals exploration.


Australia hopes to supply more minerals to the United States in the wake of the agreement, said Canavan. He expects to speak with U.S. Interior Secretary Ryan Zinke on Thursday.


ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“For 14 of those 35 critical minerals, we are in the top five (holders) of world reserves, so they are the ones weÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢d like to focus on,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ he told press at the Melbourne Mining Club event.


That list of minerals includes lithium used in batteries, along with rare earths such as neodymium, used in industrial magnets, and gallium, used to make semiconductors. It also includes bauxite and alumina, which make aluminum.



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One way of thinking about commodities (being a mug's game, especially for late arrivals hoping to make a few $$s):

In a famous 1980 wager, Julian Simon bet an author of The Population Bomb, Stanford University's Paul Ehrlich, that resources would actually become more plentiful, not less, as the population grew.


....[in a] paper published last month by the ...Cato Institute, Gale Pooley and Marian Tupy extend the results of the bet a quarter-century to the latest data available, while offering a more sophisticated tool for measuring what they call the Simon Abundance Index. In brief, they calculate the cost of commodities by how much time it takes a typical global worker to earn enough money to buy them. The index determines prosperity or shortage at ground level: in the lived experiences of actual human beings.


Measured by global average hourly income, the price of a representative basket of 50 key commodities âââ€Å¡Ãƒ‚¬ÃƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“ food, energy, minerals and so forth âââ€Å¡Ãƒ‚¬ÃƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“ fell by nearly two-thirds between when the bet was made and 2017. Measured by the time it takes to buy the basket, the earth's resources became 380 per cent more abundant as the human population grew by 69 per cent.


My gloomy human reflex almost had me write that resources grew more abundant "despite" the rise in population. In fact, resources grew "because" of the rise in population. We think we know the limits of our resources until human brains discover ways to burst those limits......

by David Von Drehle; The Washington Post



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Predicting the rise/fall of commodities may be a "mugs game", but then so too is predicting the rise/fall of stocks/markets :biggrin: but we still do it.


Perhaps Rick Mills dad's description below is apt? Anyway, here's Ricks view on commodities heading into 2019 - we won't know until 2020 if he got it right


The markets are up and down like a bride's nightgown, as my dad used to say, bitcoin is in the toilet, and tech stocks, once as steady as the banks, are as unreliable as an old Apple computer. If youâââ€Å¡Ãƒ‚¬ÃƒÂ¢Ãƒ¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¾ÃƒÆ’‚¢re reluctant to dip your toe back into the stock market, youâââ€Å¡Ãƒ‚¬ÃƒÂ¢Ãƒ¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¾ÃƒÆ’‚¢re not alone.


âââ€Å¡Ãƒ‚¬Ãƒâ€Â¹ÃƒÆ’…âہ“The Hunt for Red Octoberâââ€Å¡Ãƒ‚¬ÃƒÂ¢Ãƒ¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¾ÃƒÆ’‚¢ was a great movie but nobody thought âââ€Å¡Ãƒ‚¬Ãƒâ€Â¹ÃƒÆ’…âہ“Red Octoberâââ€Å¡Ãƒ‚¬ÃƒÂ¢Ãƒ¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¾ÃƒÆ’‚¢ would actually happen. In October it did. Anyone that was invested saw their equities turn as red as a Russian submarine commander. The S&P 500 churned. When the calendar mercifully turned to November, the benchmark US stock index had fallen 8.5%, the worst month since February 2009 and the ugliest October since the collapse of Lehman Brothers in 2008. The Dow and the Nasdaq were equally pummeled.


And then it kept going. December was the worst month since the Great Depression. The financial talking heads couldnâââ€Å¡Ãƒ‚¬ÃƒÂ¢Ãƒ¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¾ÃƒÆ’‚¢t decide what was going on. The trade war with China, speculation that the Federal Reserve would raise interest rates in December (it did) and slowing global growth, were all trotted out as culprits. Algorithmic trading and end-of-the-year tax selling also played a role, as did good old profit-taking by retail investors, who figured it was as good a time as any to exit a nine-year bull market


A recent post-mortem pointed the finger at retail bearish sentiment, the partial US government shutdown, and a weakening Chinese economy. Despite improvement so far in 2019, some equity strategists are tempering expectations, thinking that companiesâââ€Å¡Ãƒ‚¬ÃƒÂ¢Ãƒ¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¾ÃƒÆ’‚¢ soon-to-be-reported fourth-quarter-earnings and 2019 outlooks will be anemic.


So where is a smart investor, cash account flush after having sold all their 2018 underperformers, to park their capital in 2019? In a word: commodities. Forget about trendy cryptocurrencies, blockchain and marijuana. We like investing in tangible things that create real jobs, real money and real wealth..


Commodities are the right story for 2019




After an ugly end to 2018, stock market investors are understandably cautious in where they go next. Despite a better start to the markets in 2019, there is still a lot of uncertainty. But investors can get behind a good narrative, and we believe the theme for 2019 is commodities


We have pinned our thesis on three key points: 1/ Commodities are cyclical, and the timing is right to get in now; 2/ The US dollar is falling, and will likely continue to fall or be range bound going forward. A resolution to the trade war between the US and China, and a looser monetary policy by the Federal Reserve (both of which are likely) would weigh on the dollar and be good for commodities; 3/ The need for infrastructure spending is not going to let up. Despite the Chinese economy weakening, Beijing will continue to demand iron ore and base metals for its Belt and Road Initiative and other ambitious megaprojects. India and other developing nations are also in the mix.


The electrification trend we outlined as key to our investment thesis calls for a slew of battery metals - lithium, graphite, nickel and cobalt - along with tonnes of rare earths and copper. And we havenâââ€Å¡Ãƒ‚¬ÃƒÂ¢Ãƒ¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¾ÃƒÆ’‚¢t forgotten about how weâââ€Å¡Ãƒ‚¬ÃƒÂ¢Ãƒ¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¾ÃƒÆ’‚¢re going to get all that extra energy needed to make the shift from fossil fuels to electric vehicles: nuclear energy. For this we need uranium.


Put it all together, and 2019 looks to be an excellent year for commodities.


Richard (Rick) Mills



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Chinaâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s slowdown is miners' single biggest fear this year âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€šÃ‚ report


A worsening of the ongoing economic slowdown in China, consumer of about half the worldâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s commodities, is the single biggest challenge mining and metals companies face this year, a new survey of senior executives shows.


Beijing-related worries have already dragged industrial metals prices along and increased future demand concerns so far this year. This has led some to question whether the countryâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s government is doing whatâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s needed to stop the downward trend.


âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“This really is the big question for the current year, and the jury is still out,âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ BMO analyst Colin Hamilton said in a note earlier this month. âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“We anticipate the measures taken will start to yield results towards the end of the first quarter.âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ


Based on answers from 51 senior executives, lawyers White & Case say that trade tensions, which have ramped up due to US President Donald Trumpâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s aggressive trade policies with Beijing, are the second largest challenge for the mining industry in 2019, with 20% of the respondents indicating so.


Markets seem to have absorbed the impact of the current raft of trade barriers âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€šÃ‚ US import duties on steel and aluminium, and defensive safeguards from the EU and elsewhere in the world âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€šÃ‚ and there is cause for optimism. But White & Caseâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s survey results indicate that the main impact of trade tensions this year will be on speculative pressure on commodity prices, rather than any erosion of underlying demand for the hard commodities.


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U.S. lifts sanctions on Rusal, other firms linked to Russia's Deripaska

Trump administration officials, and many Republicans who opposed the effort to keep the sanctions in place, said they worried about the impact on the global aluminum industry. They also said Deripaskaâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s decision to lower his stakes in the companies so that he no longer controlled them showed that the sanctions had worked.


Rusal is the worldâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s largest aluminum producer outside China. The sanctions on the company spurred demand for Chinese metal. Chinaâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s aluminum exports jumped to a record high in 2018.

read more - https://www.reuters.com/article/us-usa-russ...a-idUSKCN1PL0S1

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Aluminium poised to rally as speculators cover short bets

Aluminium has powered higher in recent weeks, and despite a bearish outlook for base metals, could extend its advance amid a rapidly accelerating short-covering rally.


On the London Metal Exchange on Monday (Tuesday AEDT), aluminium fell 2.7 per cent to $US1867 a tonne after the United States lifted sanctions against Russia's Rusal, and China reported weaker industrial profits for a second month.

read more - https://www.afr.com/markets/commodities/alu...20190115-h1a2ij

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Aussie mining exports broke records in 2018

MINING.com Staff | about 8 hours ago |

The Australian Bureau of Statistics issued a report this week that shows that the country's mining sector set a new record for exports in 2018.


"Australiaâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s resources exports âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ including minerals, metals and petroleum âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ generated $248 billion in revenue. This is the highest-ever annual export value and accounted for 72 per cent of Australiaâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s goods exports," the Minerals Council of Australia said in a media statement related to the report.


The official trade data also revealed that coal became the number one export earner in 2018. Higher prices and export volumes generated A$66 billion in export revenue.


The MCA brief also highlights gold's performance. In the organization's view, rising production at existing operations and new mines opening up in Western Australia were responsible for the A$20 billion in gold exports registered last year.


When all combined, revenues for the export of mineral resources allowed state governments to collect A$12 billion in royalty payments.


According to the council, besides coal and gold, the current mining boom has also seen an increase in iron ore and gas exports.


"Australia is [also] already the worldâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s largest producer of lithium and one of the few countries to produce rare earth elements, but more needs to be done to support the development of new mines," MCA's statement reads.


Based on the new record in mining exports, the industry group demanded consistent government policies that encourage further investment and productivity growth.



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