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Australia accounts for almost half of the iron ore exports in the world. How has Australia benefited by selling its iron ore in the global market?

Athe price of iron ore in Australia has gone down
BAustralia is able to increase sales in foreign markets
CAustralia has helped other countries to build their infrastructure
Dother nations have helped Australia by using its natural resource

Verified Answer :

B is the correct answer

Answer:

B) Australia is able to increase sales in foreign market

Explansation:

  • Western Australia accounts for about  826 million tonnes of the iron ore and that is about 8.6% of the 2017. Also, the state's highest values of the iron ore about 29% of the world's iron ore followed by the brazil and the Russia.
  • About 4.48billion iron ore revenue is accounted by the country. And are historically formed by the mount whale back deposits of the 1957. Its exploration started in the 2009. And China was the main importer of the iron ore in the the year 2008 of 64$ value.

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