Australia’s record-breaking mining exports hint of new sector boom

Australia’s trade surplus surged to a record high in December of $3.5 billion thanks to a mix of higher mineral exports and soaring commodity prices, in which some see the beginning of a new mining boom. Exports’ value jumped 5% in December from November helped by a 14% increase in coal and a 10% rise[…]

Rio Tinto to ship less iron ore despite increased demand from China

Mining giant Rio Tinto (LON, ASX:RIO), the world’s second-largest iron ore producer, lowered its forecast on full-year exports from Australia, despite China’s recent spike in demand is supporting prices of the steelmaking material. Rio now expects to ship 325 million to 330 million tonnes in 2016, down from its earlier guidance of 330 million tonnes.[…]