The Australian Government’s outlook for commodities export earnings has attracted excited analysis as iron ore prices continue to ascend. The iron ore price jumped as high as $US123.65 ($177.60) a tonne this morning, at a time when Australia has cemented its status as the world’s largest supplier of the commodity during a time of global supply issues. The Department of Industry, Innovation and Science’s latest Resources and Energy quarterly for the three-month period ending June 30 has shown that commodity earnings were estimated to reach $275 billion in 2018–19 and $285 billion in 2019–20. Iron ore led the way as ... (full story)