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Catch up on the latest news and insights from Atlas.
Surging iron ore prices a ‘get out of jail free card’ for Morrison and Frydenberg
Accenture Managing Director Andrew Charlton says a recent surge in iron ore prices is a “get out of jail free card” for Scott Morrison and Josh Frydenberg
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THE IRON GIANT
Booming iron ore exports are supercharging Australia’s pandemic recovery, helping to deliver the Federal Government a company tax windfall this year that’s almost $9 billion higher than forecast.
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News Australia’s iron ore boom: Investors profit as global economy recovers
It is one of the most isolated major cities on earth, boasts some of the world’s finest beaches and is mercifully Covid-19 free. But Perth – which straddles the banks of the Swan River on the shores of the Indian Ocean – has another key attraction. The sun-drenched city is the ...
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Iron ore is saving Australia’s trade with China. How long can it last?
Now, one commodity is almost single-handedly keeping the trade relationship afloat: iron ore.
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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.
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Iron ore export boom boosts fiscal bottom line by $30bn
“Almost half of this increase came from stronger company tax revenue, reflecting higher iron ore prices,” the Parliamentary Budget Office said.
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Iron ore boom to bolster Frydenberg’s war chest by $36b
Roy Hill founder Gina Rinehart made an early start on the dividend bonanza with a $1.35 billion first-quarter distribution to shareholders this month, while Fortescue is tipped to pay a total of $9.5 billion of dividends in the year to June 30.
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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.
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New high for iron ore a boost for Australia’s resources sector
Media Release of The Hon Keith Pitt MP, Minister for Resources, Water and Northern Australia. Global iron ore prices have hit record highs, surpassing the previous record from a decade ago and providing a welcome boost to Australia’s resources sector as the world recovers from the impact of the ...
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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.
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Anzac Day 2021
May our government understand, we need to better serve, those who defend or have defended and served our country.
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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.
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ATLAS IRON TRUCKS FIRST SANJIV RIDGE IRON ORE
Atlas Iron has hauled its first shipment of iron ore from the Sanjiv Ridge operation in Western Australia ahead of schedule. The first delivery of iron ore to Port Hedland kickstarts the company's annual production target of four to five million tonnes. The shipment was transported using four haul trucks ...
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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 .
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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.
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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.
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