Minister for Resources and Northern Australia Matt Canavan has welcomed surging exports of iron ore, coal and LNG in 2019.
Australian Bureau of Statistics (ABS) figures released show exports of all three commodities have increased significantly.
“The ABS monthly figures show that in the first five months of calendar year 2019, compared with the same period in 2018, iron ore exports increased by 35.4 per cent to $34.6 billion, coal exports by 7 per cent to $27.5 billion and LNG exports by 45.1 per cent to $20.7 billion,” Minister Canavan said.
“In the same period, total resources and energy exports increased by 19.8 per cent compared with the same period in 2018 to $115.8 billion.”
However, Minister Canavan said – to maintain growth in resources and energy exports – it is vital for governments in Australia to reduce unnecessary barriers to investment.
“Last year (2018) the Australian Government, along with the State and Territories, agreed to benchmark mining approval processes.
“This will help encourage the adoption of best practices across the nation.
“Less red tape is the best way to keep the fantastic run of the Australian resources sector going.
“For Australia’s resources sector to continue to its major contribution to economic growth, we must attract new investment and work hard at making it practical for mining companies to invest here.
“Unnecessary red tape is the greatest threat to the continuing strength of Australia’s resources industry.”
Source: Australian Government