Federal Finance Minster Mathias Cormann on Thursday said that the resource sector has been ‘incredibly important’ over the last six months to the resilience of the Australian economy as it dealt with the Covid-19 pandemic.
“We have continued to perform strongly when it comes to our export volumes and the price in particular for iron ore is quite high. In the half-yearly Budget update we assumed that the price for a tonne of iron-ore would go down to A$55/t. When I last looked it was running at above A$100/t.