22 C
Byron Shire
January 22, 2022

Iron-ore price drop to hit Australia hard

Latest News

Boat people we are

We here in this country, now called Australia, need to be reminded that we started off as ‘boat people’. The...

Other News

First Byron Shire Council meeting postponed

Byron Shire Council’s first meeting of newly minted councillors was to take place today, 20 January, however, the storm of COVID-19 that is taking place across the country led to it being postponed.

BoM tsunami warning for the NSW Coastline

The State Emergency Service (SES) has issued a tsunami warning as a result of an eruption of Hunga Tonga-Hunga Ha'apa in the Tongan Islands at 3.10pm AEDT yesterday, Saturday, January 15.

1,114 cases of COVID-19 in the Northern Rivers in last 24 hours

The Northern NSW Local Health District say that to 8pm yesterday, January 17, there were confirmed 1,114 new PCR cases of COVID-19.

Friends of Loft

Become a Friend of Loft with their new local loyalty member program. Enjoy member-only benefits and offers, invite-only events, and...

Bungawalbin primitive bush camp: death by a thousand cuts

Locals are raising concerns in relation to a Development Application for a ‘Community Facilities – Primitive camp ground' near Coraki that they say is a site prone to severe flooding and fire risk.

TreadLightly on the planet by recycling school shoes

Most Aussie parents know how quickly kids either grow out or wear out of school shoes. They either get handed down or thrown in the rubbish – adding to the millions of shoes that end up in landfill each year

An ounce of gold today in US dollars is around $1,160. The same ounce will cost $1,550 Aussie dollars. Why the difference? Answer: the weakness of the Australian dollar.

Why is the Aussie dollar weak? Because in part our major export iron ore has in the last 12 months fallen from $98 a tonne to $44 dollars a tonne i.e the price has halved for the same volume. The golden WA goose is dead.

Why is iron ore so important? Answer: because it represents 1/5 of all Australia’s exports dollars and the halving of government royalties from iron ore exports means a budget ‘king hit’ estimated at $6.5 billion over the next two years. Australian lifestyles must fall.

What can ordinary Australians do to improve things? Like the Greeks, vote for better governance, because things are going to get much tougher over the next two years.

 Terry Sharples, Tweed Heads

Support The Echo

Keeping the community together and the community voice loud and clear is what The Echo is about. More than ever we need your help to keep this voice alive and thriving in the community.

Like all businesses we are struggling to keep food on the table of all our local and hard working journalists, artists, sales, delivery and drudges who keep the news coming out to you both in the newspaper and online. If you can spare a few dollars a week – or maybe more – we would appreciate all the support you are able to give to keep the voice of independent, local journalism alive.


  1. Terry,
    So the Iron ore price sneezes and we are in trouble because as you point out iron ore represents 1/5 of all Australia’s exports dollars.
    So what happens when we have dug up all the ground and there is no more iron ore to export?
    Would not a good government balance the budget so the eggs are not all in one basket.
    Why are we exporting our iron ore when we could make things ourselves and construct a manufacturing industry, even a good car industry. Then we don’t have to rely on cheap exports from China made from our iron ore.
    We are back in 1938 when we had “Pig Iron” Bob Menzies and he sold iron ore to the Japanese and the Japanese sold our own iron ore back to us. 180 wharfies boycotted the wharves and prevented the loading of iron ore onto the ships to Japan.


Please enter your comment!
Please enter your name here

Israel and Palestine

As an apologist for Israel, Michael Burd (Letters, 12 January) conveniently ignores the harsh truth of Israel’s brutal oppression, while claiming there are two...

Greens Mandy Nolan to hold community forum in support of nurses and paramedics

Locally and across the state nurses, and paramedics are struggling in the face of the ongoing COVID-19 pandemic as they are being asked to do double shifts and manage effectively in health system that is struggling to cope. This has led to an increasing number of nurses and paramedics resigning.

NSW COVID update on COVID deaths – vax stats and comorbidities

NSW Premier Dominic Perrottet again opened his COVID update with condolences to families who have lost loved ones, and thanks to the  ‘inspirational work of our health workers'.

January 21 National Cabinet on Omicron, RATs, vax and treatments

Prime Minister Scott Morrison has issued a media release about yesterday's meeting of the National Cabinet.