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Australia's coal exports hit record high

Coal News - Published on Tue, 13 Feb 2018

Image Source: shippingherald.com
Platts reported that value of Australia's coal exports hit a record high AUD 56.5 billion (AUD 44.21 billion) in 2017, topping the previous record set in 2011 of AUD 46.7 billion.

Minerals Council of Australia said in a statement that "Historically coal has been Australia's biggest export earner and these trade numbers confirm its ongoing strength and significant contribution to the economy."

The exports from the neighboring eastern states of New South Wales and Queensland comprised thermal and metallurgical coal and were up 35% year on year, it said.

Thermal coal exports in 2017 totaled 200 million tonne, worth AUD 20.8 billion, while metallurgical coal exports totaled 172 million tonne, worth AUD 35.7 billion, it said.

Most of the coal was exported to Asia, from established markets in North Asia to the fast growing economies of Southeast Asia and India, it said.

MCA said that "Southeast Asia is emerging as a significant new market for Australian coal due to its recent investments in high efficiency, low emission coal-fired power plants significantly reducing greenhouse gas emissions. Exports to this market were worth approximately AUD 2 billion in 2017."

MCA pointed to high productivity within the Australian coal mining industry, proximity to major markets and strong regional economic and population growth as factors that "will continue to underpin coal exports in the long term.

Source :

Posted By : Nanda Koijam on Tue, 13 Feb 2018
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