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The Australian government expects the combination of rising prices for commodities such as natural gas and a weaker US dollar to push the nation’s resource and energy exports to a record of A$252 billion ($182 billion) in 2018-2019, according to Reuters News.

Key points (Source: Reuters)

Australia govt sees iron ore prices falling to $51/T in 2020.

Also sees broader commodity prices weakening next year.

Expects to be a major producer of battery-grade lithium in the 2020s.

Iron ore exports are expected to increase to 878 million tonnes in 2019-2020 from 869 million tonnes this financial year and 849 million tonnes in 2017-2018.

The value of such exports would edge back to around A$238 billion in 2019-2020.