According to a report from the Bureau of Resources and Energy Economics (BREE), the quarry industry, along with farmers, energy and resources, will generate $215 billion in the year ahead.
?The 21 per cent increase in resources and energy export earnings reflects strong increases for most commodities including coal, iron ore, oil and gas, base metals and gold,? said Professor Quentin Grafton, BREE?s executive director and chief economist.
Grafton believed that the increase in overseas sales lay not only with increased demand, but also with Australia?s improved capacity for production.
?The increase in export volumes for many minerals and energy commodities reflects increased mine and infrastructure capacity, particularly for iron ore and coal,? he said.
The good times, however, aren?t expected to go on forever, with asset prices likely to go off the boil due to continuing global economic pressure, particularly in Europe and North America.
?While prices for a number of commodities are forecast to ease in 2012, it should be noted that in some cases they are coming off record high levels and still indicate a very positive outlook for the industry,? said Grafton
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