Tag: commodities

Resource sector poised to bounce back

Resource sector poised to bounce back

AUSTRALIA’S resources and energy exports are expected to reach $299b in 2019–20, before easing back in subsequent years as some of the surprising price gains of recent quarters unwind. However, the possibility remains for new records to be set if prices continue to surprise on the upside. The recent Resources and Energy Quarterly, which published an extended five-year commodity outlook, indicated a bigger picture outlook showing vast potential and a host of new opportunities as development progresses over the longer term in Asia, Africa and South America. It said Australia’s prospects as a resource and energy commodity exporter continue to remain strong, with the country tipped to become the world’s biggest producer of gold. The forecast looked beyond immediate issues...

Deloitte sees commodities boost for WA miners

Deloitte sees commodities boost for WA miners

By Cameron Drummond WA companies are prospering off a commodity rebound, with Fortescue Metals Group (FMG), Pilbara Minerals (PLS) and Resolute Mining among a group recording market cap increases. The Deloitte WA Index rose in April with the market capitalisation of WA-listed companies increasing by 9 per cent to $136.2 billion. Deloitte Clients & Markets Partner WA Tim Richards said the index’s performance was boosted by the month’s strong commodity prices. “April’s result, which follows a 5.9 per cent rise in March, was primarily driven by crude oil reaching its highest price in 2016 and iron ore climbing to US$64.50 per tonne at the end of the month,” Mr Richards said. “This spurred on investors, as demonstrated by the market...