SALES AND SERVICE INCOME
Sales and service income for total mining was $115.5b in 2006-07, an increase of $16.6b (17%) over the previous year. Most mining industries presented in this publication increased their sales and service income in 2006-07. Sales and service income for the 'core' mining industries of Coal mining, Oil and gas extraction, and Metal ore mining increased by $15.4b (18%) to $100b.
The largest contributor to sales and service income was Coal mining, at $30.5b. This was an increase of $1.0b (or 4%). According to ABARE, the average export unit value of coking coal fell by 19% to A$114.35 in 2006-07, while steaming coal fell by 7% to A$60.57. Prices were more favourable for businesses reporting for the year ended 31 December 2006 (see Explanatory Notes paragraphs 27 and 28 for more details), when the price of coking coal was on average 11% higher, and steaming coal 3% higher, than in 2006-07.
Sales and service income for Oil and gas extraction increased by $3.3b (14%) to $26.6b. According to ABARE, the export value of crude oil rose by 25% in 2006-07. The increase in sales and service income can be attributed to the increase in prices and production. The world trade weighted average price of crude oil in 2006-07 was A$75.08 per barrel, an increase of 3% over 2005-06. The increase in production reflects the commencement of operations at a number of fields such as Enfield in Western Australia and improved performance from existing operations. Prices were more favourable for businesses reporting for the year ended 31 December 2006 (see Explanatory Notes paragraphs 27 and 28 for more details), when the price of crude oil was on average 6% higher than in 2006-07.
Iron ore mining and Silver-Lead-Zinc mining recorded the largest contribution to sales and service income (53%) for Metal ore mining. In absolute terms this equated to a $16.3b increase in Iron ore mining and a $6.6b increase in Silver-Lead-Zinc ore mining. ABARE reported the average Australian dollar export price of iron ore increased by 12% in 2006-07, coupled with a 21% increase in export volumes. The average US dollar price of silver rose by 37% and zinc rose 73%. Table 2.2 presents industry value added (IVA) and the elements to arrive at its derivation.
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