Two recently merged bureaus tagged the mineral and energy exports during the June 2010 quarter as the second highest on record.

The Australian Bureau of Agricultural and Resource Economics (ABARE) and the Bureau of Rural Sciences (BRS) reported second quarter mineral and energy exports to have reached $44.02 billion. The increase is 41 percent higher than the first quarter's $44 billion. The figures reflect higher earnings for bulk commodities and crude oil.

ABARE deputy executive director Paul Morris said, “Higher contract prices for bulk commodities and increases in export of coal, iron ore and crude oil in the June quarter underpinned the increase in export earnings.”

Iron ore revenue went up to $12.57 billion from the March quarter's $7.8 billion. The production during the June quarter surged by 5 percent to 99.6 million tonnes, thus, making iron ore the country's biggest export earner.

Coking coal revenue rose 70 percent to $8.48 billion as thermal coal exports increased 25 percent to $3.26 billion. The prices of both kinds of coal exports are being repriced quarterly.

As for crude oil production and other refinery feedstock exports, the figures increased from 3.79 million litres in the March quarter to 5.47 million litres in the June quarter. Earnings, as a result, went up 50 percent to $3.06 billion.