Australia’s Department of Industry, Innovation and Science released its Resources and Energy Quarterly for December today, which showed that the country’s resources and energy export earnings are expected to reach a record A$214 billion in the 2018 financial year.
The result will be driven by increasing iron ore and LNG export volumes, with production expected to continue to rise over the next two years, but prices are expected to fall.
Export earnings are expected to drop to around $200 billion in FY19.
“2018 marks the end of the remarkable resources and energy investment boom of the past decade," Chief Economist Mark Cully said.
“The three remaining large LNG proje...