Coal news and updates

Record coal exports continues to drive Queensland economy

Queensland has set a record in metallurgical and thermal coal exports in June with 21.43 million tonnes of the commodity sent from the state.

The result represents an 11 per cent increase on the same month last year, highlighting the increase in demand from world markets for Queensland’s coal.

It has contributed to the state’s exports from all resources totalling over $70 billion for the 12 months to May this year for the first time.

Queensland resources sector exports, including coal, minerals and gas, are worth over $190 million every day, highlighting the importance of the industry to the Australian economy, according to Queensland Resources Council (QRC) chief executive Ian Macfarlane.

“Queensland’s coal is the commodity of choice with our high quality thermal coal needed to power high efficient, low emissions coal-fired power plants in Asia and our metallurgical coal used to make steel is building the bridges and skyscrapers in modern cities,” he said.

Data from Queensland major ports found the majority were operating above average monthly volumes with the Port of Gladstone recording a five million tonne increase in coal exports, resulting from improved efficiencies and growing demand from overseas customers.

The QRC maintained its called for “stable and reliable regulation” for the resources sector in order to continue attracting new investment.

“People want industry and government to work together with communities and wider society to promote effective, constructive, and mutually beneficial relationships,” Macfarlane said.

Source: Australian Mining