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Coal expected to be Australia’s most valuable export in 2018-19

Coal is expected to become Australia’s most valuable export for the first time in nine years in fiscal 2018 ending June this year, as increasing concentration in the mining industry pushes up prices and exports to China and other countries in Asia rise.

Iron ore prices, on the other hand, have continued to decline, dragged lower by falling Chinese demand. The shift in Australia’s resource exports also highlights its dependence on the state of the Chinese economy.

Australia will export 67 billion Australian dollars ($47.8 billion) of coal in fiscal 2018, compared with AU$63.8 billion for iron ore, according to the “Resources and Energy Quarterly” report for December published by the country’s Department of Industry, Innovation and Science.

 

Anglo Pacific (LON:APF) has a 2% NSR royalty on all mineral products sold from the area of the Maracás Menchen project to which the royalty interest relates. The project is located 250km south-west of the city of Salvador, the capital of Bahia State, Brazil and is 99.97% owned and operated by TSX Venture Exchange listed Largo Resources Limited (‘Largo’).

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.