Australian resource and energy exports are expected to hit a record $296 billion in 2020-21, despite the global economic downturn. The latest Resources and Energy Quarterly reveals the bumper result was due to a rebound in demand from China and an increase in commodity prices due to restricted supply caused by production slowdowns in other countries. “Exports are forecast to earn a record $296 billion in 2020–21 and remain strong over the next five years, driven by ongoing demand for iron ore and growth in technology-related commodities such as lithium, nickel and copper,” Minister for Resources Keith Pitt said in a statement. “The industry has remained safe and reliable suppliers to domestic and global markets throughout the pandemic,” he added, saying the rollout of the COVID-19 vaccine would also create more opportunity for growth in the Australian resource sector. “Iron ore is benefitting from both high prices, as well as …