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Stronger mining industry supports faster return to Budget surplus

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Data from the Australian Bureau of Statistics shows that record profits from Australia’s minerals sector are making Australia’s economy stronger.

During 2018, pre-tax profits of resource companies increased to a record $81 billion.

Mining makes up 33 per cent of all company profits in Australia, which makes it a significant contributor to government revenues which fund teachers, doctors, police and other essential services and infrastructure.

With resource company profits growing by $16.9 billion during 2018, it is clear that strong prices for iron ore and coal will support a faster return to Budget surplus.

A stronger mining industry is good for Australia.

Source: MCA

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