Reuters reported that Australia's Queensland state is considering new coal mines and the country's first new export terminal in 25 years, investments that could increase shipments from the world's largest exporter of the commodity by 40%.
Ms Anna Bligh The Premier of Queensland state said that she was looking at options for new coal developments in the tropical state, including three new coal projects that could boost output by 75 million tonnes a year and a coal port with a capacity of up to 100 million tonnes.
She said that "These projects could see this state fully harness the opportunities the resources boom can offer by delivering a 40% increase in our coal exporting capacity.”
Australia has benefited hugely from a near trebling of prices in just a year caused by surging Asian demand but also shipping bottlenecks at home, with supply tightness not seen easing for at least four years.
