General
The China row is unlikely to hit iron ore exports, but that doesn’t mean WA shouldn’t be prepared
It is hardly surprising Western Australia’s Premier Mark McGowan is concerned iron ore could become tangled in ongoing trade tensions between Canberra and Beijing.
China’s steady demand for the red metal was the main reason WA expected a $1.2 billion budget surplus this financial year, while other states and the Federal Government stared down eye-watering deficits.
WA collected $8.4 billion in iron ore royalties in 2019-20 and another $7.4 billion was expected this financial year.
The industry, which accounts for 65,000 onsite jobs, brought in more than $100 billion last financial year.
For every $1 per tonne the price of iron ore…
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