In its June quarter 2009 edition of Australian mineral statistics, ABARE reported export earnings from mineral resources increased 37% year-on-year to a record $A159.7 billion.

ABARE deputy executive director Dr Terry Sheales said the record earnings reflected a 16% depreciation of the Australian dollar and higher contract prices for bulk commodities in the first nine months of the financial year.

The index of export prices of Australian mineral resources increased by 35% in 2008-09.

Iron ore was one of the big movers with 2008-09 export earnings up $13.7 billion, or 67%, to $34.2 billion, while gold gained $5.2 billion, or 48%, to $16.1 billion.

There were significant increases in export earnings for metallurgical coal, up 129% to $36.7 billion, and thermal coal, up 114% to $17.9 billion.

However, nickel led the commodities, recording significant declines with a $3 billion or 53% drop in 2008-09 export earnings to $2.7 billion.

Zinc also fared badly, falling $1.5 billion, or 45%, to $1.9 billion, while copper dipped $964 million, or 14%, to $5.8 billion and lead fell $424 million, or 21%, to $1.6 billion.

Australian production of energy and mineral commodities declined in 2008-09, with the index of mine production falling by 1%.

“In particular, production of nickel, iron and steel, zinc, gold and black coal declined in 2008-09,” Sheales added.

ABARE’s revised forecasts for minerals production, exports and prices for 2008-09 and 2009-10 will be released later this month.