Australia will take a $16 billion haircut on the value of mining and energy exports this year, according to the latest predictions from the government's top commodities forecaster. Despite bigger volumes of exports and an easing currency, the Bureau of Resources and Energy Economics believes the value of mining and energy exports will be lower this financial year on the back of weaker commodity prices. The declines were led by the nation's two biggest export industries - iron ore and coking coal - with export values falling $5.4 billion and $9 billion respectively compared with 2012. (full story)