The Australian Bureau of Agricultural and Resource Economics (ABARE) said that Australian exports of iron ore and coal hit record highest levels in the last quarter of 2009.

The export of iron ore and coal shipment was about 98 million tons and over 74 million tons respectively.

The growth was driven by robust steel demand from Asia countries such as Korea, Japan and China, even with nine percent appreciation of the Australian dollar.

ABARE expects a long lasting demand for iron ore and coal in the coming years, because of the mass industrialization and urbanization projects under way in Asian countries.