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Australia faces $30 bln export revenue hit from slide in iron ore, coal

A worldwide fall in iron ore and coal prices is set to cut Australia’s overall export revenue by $32 billion, equal to 2 percent of projected GDP this year, Reuters calculations show. Australia is by far the world’s biggest exporter of iron ...

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Mining giants may hoard cash as iron ore prices sag

Sagging iron ore prices raise the prospect the world’s biggest miners will shelve plans to return excess cash to shareholders in February, despite promises to investors who had hoped to reap the benefits of two years of austerity. Stung by slower growth ...

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Australia’s Senate votes to repeal mining tax in win for Abbott

Australia’s upper house Senate voted on Tuesday to scrap a tax on mining industry super profits, a major victory for conservative Prime Minister Tony Abbott that has fuelled accusations that he is in the pocket of global mining giants. Abbott ...

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