⁍ Australia has pared its forecasts for mining and energy export revenue this year.

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⁍ LNG and metallurgical coal earnings are forecast to be slightly weaker than earlier expected.

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⁍ Government sees iron export earnings slipping to A$97 billion this year from last year’s record A$102 billion.

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– Australia’s mining and energy exports set a record high last year, but the country now expects those exports to fall by 12% over the next four years, Reuters reports. “In 2020-21, relatively weak resource and energy commodity prices—with the notable exception of gold and iron ore—and lower coal export volumes are expected to drive a sizable fall in export earnings,” the government says. According to the Australian Financial Review, Australia’s resources-heavy economy is benefiting from low iron-ore prices, strong demand from China, and a flu pandemic in Brazil that cut iron-ore supply. “There is little immediate prospect for a major change in these dynamics,” the government says. According to the Australian Financial Review, Australia’s resources-heavy economy is benefiting from low iron-ore prices, strong demand from China, and a flu pandemic that cut iron-ore supply. Australia’s resources-heavy economy is benefiting from low iron-ore prices, strong demand from China, and a flu pandemic that cut iron-ore supply. Australia’s resources-heavy economy is benefiting from low iron-ore prices, strong demand from China, and a flu pandemic that cut iron-ore supply. According to the Australian Financial Review, Australia’s resources-heavy economy is benefiting from low iron-ore prices, strong demand from China, and a flu pandemic that cut iron-ore supply. Australia’s resources-heavy economy is benefiting from low iron-ore prices, strong demand, and a flu pandemic.