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Australia to see faster return to budget surplus through stronger mining industry

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World Coal,


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 AUS$81 billion.

Mining makes up 33% 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 AUS$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.

Read the article online at: https://www.worldcoal.com/mining/07032019/australia-to-see-faster-return-to-budget-surplus-through-stronger-mining-industry/

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This article has been tagged under the following:

Australia coal news Minerals Council of Australia news