Mining exports to earn $209b

AUSTRALIA'S mining and energy industry is expected to earn a record $209 billion in exports in the coming financial year.

The good news comes just weeks before the Federal Government introduces the Mineral Resources Rent Tax.

The quarterly report from the Federal Bureau of Resources and Energy Economics found coal export volumes would increase by 13% with prices falling only slightly.

A lower Australian dollar against the US in 2012-13 also will support increases in the value of Australia's resources and energy exports.

With the exception of aluminium, export volumes for all major minerals and energy commodities are forecast to increase.

BREE chief economist and director Professor Quentin Grafton said exports were able to increase as mines and infrastructure expanded.

Economic growth across a number of major economies, including China, is assumed to slow in 2012, relative to 2011, and then increase in 2013.

"Despite the uncertainty surrounding the outlook for some European economies, Australia's export volumes for most commodities have remained strong throughout 2011-12, while prices for many commodities have remained at elevated levels relative to historical norms," Prof Grafton said.



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