Coal news and updates

Greener future won’t cost coal

Queensland Mines Minister Dr Anthony Lynham has backed the coal industry following an ABC Four Corners report suggesting the sector was doomed.

He admitted the State Government was focused on a cleaner, green future with a target of 50% renewable energy by 2030.

But at a Queensland Exploration Council breakfast yesterday Dr Lynham said IEA also predicted over that same period global coal demand would increase 15% and coal prices would rise.

Economist and former Liberal Party federal leader John Hewson told Four Corners many people legitimately did not believe Adani's $16 million Carmichael project in the Galilee Basin would go ahead.

Josh Euler, external affairs general manager from GVK, the company behind the Alpha coal project in central Queensland's Galilee Basin, described as misguided claims the end of coal was near.

He said the statements ignored that the most cost effective energy source was coal-fired power generation.

"It is also incorrect to assume high production costs in the Galilee Basin, as the unique geological features of our Alpha coal project ensures that it will be one of the lowest cost coal producing operations feeding into the Asian seaborne market," he said.

source: http://www.dailymercury.com.au