Business SA: Federal Budget Summary 2021/22 | 3 Highlights The fact that the 2021/22 Budget still shows a $106.6b deficit, despite a $53b improvement in the 2020/21 deficit to $161b, is a stark reminder of the incredible impact COVID-19 has had on both Government finances and the Australian economy. For context, the previous deficit
Iron ore (Mt) 253.5 2% 65.2 9% Increased volumes at WAIO reflects record quarterly production at Mining Area C, which included first ore from South Flank in May 2021, and continued strong operational performance enabled by improved supply chain reliability. Metallurgical coal (Mt) 40.6 (1%) 11.8 23%
2015-16 Impact on Indian Steel Industry BUDGET . Budget 2015-16 bought no cheers to the Steel Industry. The Railway budget proposed to raise Railway freight rates for Iron ore and coal by 0.8% & 6.3% respectively. The customs duty on Met coke is raised to 5% from 2.5% in this
China is, by far, the largest importer of iron ore and with its imports in 2015 to approach the 930 million tons it imports about the 68% of world iron ore. Japan stands in the second position, importing about 130 million tons, which is about 10% of the world iron ore imports.
liminary data show that the 2014 budget defi - cit was 6.0 percent of GDP on a cash basis. Arrears in payments to contractors, suppli-ers, and to the pension fund were equivalent to around 2.5 percent of GDP accumulated in 2014. Government debt grew to 35 percent of GDP from 20 percent in 2011. When the 2015 budget was prepared, the
Q4 2015 production increased by 3% (on a copper equivalent basis) compared to both Q4 2014 and Q3 2015. The 2015 full year production increased by 5% (on a copper equivalent basis) (7). Iron ore production from Kumba decreased by 12% to 10.9 million tonnes as Sishen is being transitioned to a lower cost pit configuration.
The iron ore spot price on Budget day was over $200USD per tonne. The Budget assumes that iron ore spot prices will fall to US$55 per ton Free on Board (FOB) by the March quarter 2022. If this fall were to occur immediately, rather than by the end of the March quarter 2022, nominal GDP could be around $11.6 billion lower than forecast in 2020 ...
The iron ore price was around US$90 per tonne in May, and the federal budget assumed prices would decline to US$65 per tonne by March quarter 2020. Since then, the iron ore price reached as high as US$120 and, despite recent declines, is still around levels prevailing in early May.
The growth of mineral commodity exports since 2003–04 has been phenomenal, driven largely by strong demand, particularly for iron ore and coal. The value of iron ore exports increased from $5.3 billion in 2003–04 to $34.2 billion in 2008–09 while metallurgical and thermal coal increased in value from $6.5 billion to $36.8 billion and $4.4 ...
Iron ore production (million tonnes) In the year 2015, India stood as the largest producer of direct reduced iron ore and world'sfourth largest iron ore producer (global share of 8 per cent) Iron ore production is estimated to have declined at a CAGR of 2.72 per cent during FY07–15E. Total production in FY14 stood at 136 million tonnes.
The budget is the eighth in a row to contain a deficit. In May 2015, the deficit for FY 2015/16 was forecast to be $35.1 billion (2.1% of GDP). In December 2015, this increased to $37.4 billion. Revenues. The falling price of iron ore cut billions of dollars from forecast budget revenue.
Iron ore sector overview and outlook Current situation Future outlook ... impact on budget will be more than 2% Impact on total state budget (direct and indirect impact) ... l The impact of the iron ore sector on total exports will diminish over time and become negligible by 2030 (0.8% of total export by 2030)
Budget 2015: Goa miners expect scrapping export duty on iron ore. ... Proposed move could further impact the iron ore industry and drag down mining growth in the country. more. 09 Mar, 2012, 01.38 AM IST. Goan majors blame unorganised players for iron-ore mining mess.
iron ore price almost halving since the 2014 Budget. Consistent with the fiscal strategy, new spending has been directed to investments that boost productivity and participation. We can have a more prosperous future if we plan for tomorrow, today. Budget aggregates and major economic parameters Outcomes 2013-14 2014-15 2015-16 2016-17 2017-18 ...
The US dollar spot price for iron ore has fallen by around 50 per cent over the past year and by over 65 per cent since its peak in early 2011 ().This follows a very large increase in prices over the 2000s as the growth in global demand for iron ore, particularly from China, exceeded the growth in global supply.
The country is rich in natural resources which include iron ore, diamonds, gold, fertile soil, fishery, and forestry. However, the economic potential of these assets remains largely untapped. Political Overview. The Liberian Government, under the leadership of President George M. Weah continues to implement its Pro-Poor Agenda for Prosperity ...
Iron Ore (Fe) is mined in around 50 countries worldwide and used to make steel (buildings, cars, white goods etc.). Global economic growth is the primary factor that drives its supply and demand. When economies are growing, the need for steel in construction increases which drives the price up.
Global iron ore production growth will accelerate in the coming years, bringing an end to the stagnation that has persisted since ore prices hit a decade-low of $55 per tonne on average in 2015, Fitch Solutions said in its report. "We forecast global mine output growth to average 3.6 percent over 2021-2025 compared to -2.3 percent over the previous five years.
market" value (Stout, Winthrop, & Moore, 2015)—could be destroyed by the introduction of novel mining activity. Proponents of sulfide-ore copper mining argue that the choice between this new type of mining and amenity-based development is a false choice for the Arrowhead region (Praxis Strategy Group, 2017).
"The freight hike in the Budget on iron and steel will have little impact on us," spokesperson of a leading steel firm said. Prabhu has also proposed to raise freight rates for iron ore meant for domestic use by 0.8 percent.
So far these have not had a major macroeconomic impact because the value of the products affected is small (less than 1% of GDP) and the impact has been swamped by the strength in iron ore exports and prices.
6 reserves globally across commodities such as thermal coal and iron ore, the mining industry has remained relatively small and stagnant. ... India's exploration budget in 2013 stood at USD 17 per square km ... 2015, and the potential impact on the Indian economy. _____! 1 "Ministry(of (Mines(Annual(Report(2013614(2"Putting ...
At the same time, domestically, smaller units were facing iron ore shortage that led to a reduction in domestic production. This resulted in a demand-supply mismatch, Sharma explained. "While fully integrated steel mills did not see much of an impact, medium and small-scale mills faced a …
Tax receipts downgraded by $52 billion since 2014 Budget – $20bn a result of the iron ore spot price halving: Iron ore investments and exports directly contributed 15% to economic growth over the last decade; Australia accounts for 1/3 or world iron ore production; Australia's major trading partners are expected to grow by 4.5% in 2015 and ...
1.1 Global overview 1.2 ASEAN overview 1.3 Country overview 1.4 Industry performance ... Malaysia Budget 2015 major infrastructure projects and estimated value ... Iron ore price trend (Nov 2014-Oct 2015) Chart 12: LIONIND revenue contribution by segment, 1Q2016