Group Executive News
Discover the latest news and updates from Hancock Prospecting Group.
Budget driven by WA
The sector is not only pumping royalties and taxes into government coffers and wages into the pockets of its workers and related occupations, it is also a big part of employment growth.
Read more
Iron ore gives Budget boost
Australia’s Budget bottom line is recovering faster than expected, driven largely by the strength of WA’s iron ore sector, with analysts now suggesting it could be back in surplus within four years.
Read more
Iron ore price boom expected to send more royalties into WA’s coffers as year end approaches
WA’s budget surplus is climbing towards $4 billion as iron ore stretches its unexpectedly strong run into the last quarter of the financial year, potentially pumping another $800 million into government coffers.
Read more
RESOURCES SECTOR CONTINUES TO LEAD
WA’s booming resources sector reported record sales of $174 billion in 2020, underpinned by a $116b contribution from the State’s thriving iron ore industry .
Read more
Iron ore boom, strong labour market ease budget woes
Australia is set to reap a budget windfall from booming iron ore prices and a stronger than expected economy and labour market, with a leading economist predicting a massive improvement over the government’s forecasts in its Mid-Year Economic and Fiscal Outlook in December.
Read more
Mine export surge holds up economy
A record $296 billion in forecast resources and energy exports this year is turbocharging Australia’s economic rebound from the COVID-19 downturn and will help offset the withdrawal of the federal government’s JobKeeper wage subsidy.
Read more
RESOURCES HIT $296B RECORD
Australia’s resources sector will again break export earnings records this financial year, underpinned by another record high in annual income from WA’s powerhouse iron ore industry.
Read more
Iron ore to drive $136bn windfall
Booming iron ore exports on the back of a global economic rebound linked to stimulus measures and supply shortages following the COVID-19 pandemic are expected to drive Australia’s resources and energy exports to a record $136bn.
Read more
World’s richest woman warns of iron ore crash
Gina Rinehart’s right-hand man is on the hustings with a stark warning:
Read more
Australia’s economy is more reliant on iron ore than ever
Article by Greg Jericho courtesy of the Guardian: It is great for our economy, but it also means Australia’s economic base has become very narrow.
Read more
Western Australian’s budget outpaces rest of the world
Western Australia has recorded the best budget performance in the world through the pandemic, underpinned by a boom in mining royalties that have shielded the state’s bottom line from the worst recession in nearly a century.
Read more
WA’s economy best in world during COVID-19 pandemic
WA’s economy has boomed to be the best in the world during the COVID-19 pandemic.
Read more
Australia posts record $10b trade surplus in January as iron ore exports boom
Australia has posted the biggest monthly trade surplus in history on the back of record iron ore exports, as the economy continued to rack up new markers in its rebound from last year’s deep recession.
Read more
Trade surplus reaches ‘historic’ $73bn in 2020 as iron ore sales boom
Australia’s trade surplus reached a record $73bn in 2020, propelled by surging iron ore sales and a slump in demand for imported goods through the COVID-19 crisis.
Read more
