Australia government warns the rally in iron ore and coal may not last

The forecast report from the Australian government’s chief economist Mark Cully suggests the party for the miners could be over in 2017.

Cully does not expect the rally in iron ore and coking coal to last and presented, a ‘sobering view’ of future investment in Australia’s resources sector.

However, Cully sees a rise in the value of Australia's mining and energy exports in 2017. It could be way higher than the $157.1 billion of exports in the year to June 30, 2016.