If Australia is to move on from coal, how do we do it? An obvious gap in the Federal Election debates was a comprehensive plan for an industry, and employment, to replace coal in the regions. Geraldine Doogue speaks with Chris Briggs, Research principal at the Institute for Sustainable Futures, at the University of Technology, Sydney and Professor Frank Jotzo, Director of the Centre for Climate Economics and Policy, ANU Crawford School of Public Policy and director of the Australian-German Energy Transition Hub. Listen nowRead more
HUNTER Valley coal prices have slumped by a quarter in the past year as a number of Asian countries move to reduce their reliance on coal for electricity generation, a leading industry journal, the Australian Coal Report, has confirmed. Read more hereRead more
June 6, 2019 (IEEFA U.S.) – Investors lost billions when the (once) most valuable company in the world, General Electric Company (GE) and its largest shareholders – BlackRock, Vanguard, State Street and Fidelity – misjudged the pace of the global energy transition and subsequent collapse of the gas turbine and thermal power construction market, a new IEEFA report finds.Read more
Alexandra Heath, Head of Economic Analysis addresses the Association of Mining and Exploration Companies
Perth – 5 June 2019 Excerpt:
Global demand for Australia's commodities:
One of the biggest factors affecting the global demand for commodities is population growth – more people need more places to live, more food to eat and demand more energy. The process of industrialisation and urbanisation also increases demand for commodities, although the composition of that demand can change as countries become richer. For example, diets become increasingly protein-based and construction becomes more steel-intensive. The increase in demand from these factors will be offset to some extent over time by technological progress that allows commodity inputs to be used more efficiently. There are also policy considerations, such as governments' commitments to the Paris Agreement, that will affect the composition of commodity demand going forward.Read more
The CEO of the Minerals Council of NSW, Stephen Galilee, doesn't seem keen for the Hunter to diversify its economy and prepare for the opportunities and challenges that will come as the countries we sell coal to switch their economies towards renewable energy. Read Daniel McLaughlin's opinion piece in the Newcastle Herald hereRead more
Thermal coal used for electricity provides only 13% of royalties to Queensland’s budget compared to coking coal used for steel manufacturing - which provides 87% in royalties, a new IEEFA report finds.Read more
Mining Monthly, 31st May 2019: The New South Wales government has set itself the lofty target of increasing the value of mining production by 30% by 2020 from its $15 billion export figure in 2012-13. This ambitious goal is expected to be driven by the Hunter region, which is the major contributor to NSW coal exports, which is in turn the state's biggest export.Read more
Port of Newcastle chair Roy Green says Hunter can't rely on being protected from history's headwinds
WE didn't need the federal election to remind us of the Hunter's strong connection to coal mining.
Thousands of workers are employed in the industry. Generations of families have made a living from this in-demand resource over more than two centuries.
Coal has been an important ingredient of the region's economic success. Yet the increased recognition of climate change and the shift to cleaner energy sources presents us with a challenge.
Ours may be the highest quality coal in the market, but this will not protect us from the day it is no longer needed.
While the Queensland government moves reactively to fast-track the approvals process of the decade-long delayed Adani thermal coal mine in the Galilee Basin, thermal coal export forecasts continue to show a terminal decline globally in the long term, consistent with the goals of the Paris Agreement.Read more
In its strategy paper BHP writes that it has "no appetite for growth in energy coal" regardless of asset attractiveness.
So even if it is cheap - the Big Australian doesn't want it.