Higher iron-ore prices have helped to drive Australia’s resource export earnings to a record A$275-billion in the 2018/19 financial year, with export earnings expected to hit A$285-billion in 2019/20, data from the latest Resources and Energy Quarterly shows. Chief economist Mark Cully on Monday noted that the fallout from the Brumadinho tailings dam collapse had led to a sharp drop in Brazilian iron-ore exports. This shortfall now looks set to last at least two years.
