CANAVAN WELCOMES SURGING IRON ORE, COAL, LNG EXPORTS

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 today 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 withthe same period in 2018, iron ore exports increased by 35.4 per cent to $ 34.6 billion, coalexports by 7 per cent to $27.5 billion and LNG exports by 45.1 per cent to $20.7 billion,” MinisterCanavan said. “In the same period, total resources and energy exports increased by 19.8 per cent compared withthe same period in 2018 to $115.8 billion.” However, Minister Canavan said – to maintain growth in resources and energy exports – itis vital for governments in Australia to reduce unnecessary barriers to investment. “Last  year, the Australian Government, along with the State and Territories, agreed to benchmarkmining approval processes. This will help encourage the adoption of best practices across thenation. “Less red tape is the best way to keep the fantastic run of the Australian resourcessector going. “For Australia's resources sector to continue to its major contribution to economic growth, wemust attract new investment and work hard at making it practical for mining companies toinvest here. “Unnecessary red tape is the greatest threat to the continuing strength of Australia’s resourcesindustry.”