Soaring iron ore and gold prices are set to boost federal and state budgets. : The nation's resources sector is on track to send a record $282 billion worth of product to the rest of the world this financial year as soaring prices for iron ore and gold deliver a vital boost to federal and state budgets. The Industry Department is releasing on Monday its latest quarterly update on the resource and energy sector, forecasting iron ore exports alone will be worth an all-time high of $81.5 billion in 2019-20.