- Write by:
-
Tuesday, November 10, 2020 - 12:35:04 PM
-
614 Visit
-
Print
Mining News Pro - China’s coal imports have dropped by 47 per cent in October compared with the corresponding period last year as trade tensions with Australia worsened.
Coal imports last month amounted to just 13.73 million tonnes compared with 25.69 million tonnes in October 2019.
The sobering statistics for October arrived as China reportedly banned specific Australian imports including coal.
China’s October coal imports were also 26 per cent lower than in September.
According to IEA (International Energy Agency) Clean Coal Centre, Australia supplied more than 40 per cent of China’s coking coal imports and 57 per cent of the nation’s thermal coal last year.
China imported 253.16 million tonnes of coal from Australia between January and October compared with 299.67 million tonnes in 2019.
The news came as the Minerals Council of Australia released its New Frontiers research project, outlining opportunities for Australia to boost its mining exports in South and East Asia.
According to the research, energy demand is expected to skyrocket due to factors including population growth, urbanisation and infrastructure spending, with coal expected to provide 40-60 per cent of India’s energy until 2030 and beyond “because it’s the cheapest fuel available”.
Coal supplies more than half of Indian power stations, according to the report.
The MCA anticipates strong growth for coal in Southeast Asia in the 2020s, stating that shipping coal from Australia can often be cheaper than domestic transportation in India.
Short Link:
https://www.miningnews.ir/En/News/608163
Oxford Economics Australia has released data showing mine maintenance spending may be hitting its peak. But what does it ...
Copper climbed above $10,000 a ton as predictions for tighter global supplies and rising consumption in electric ...
Iron ore futures fell to their lowest in more than two weeks, pressured by an inventory accumulation at Chinese ports ...
Australia will spend A$566 million ($373 million) over the coming decade to map out resource deposits with a focus on ...
China issued draft rules on Wednesday to regulate its lithium battery market, after rapid expansion in the sector hit ...
Imports of iron ore by China, the world’s biggest buyer, in 2024 are expected to be around 1.17 to 1.18 billion metric ...
China’s central bank added 60,000 troy ounces of gold to its reserves in April, official data showed on Tuesday, ...
Around $7 billion of infrastructure investments in the Democratic Republic of Congo by Chinese companies in a revised ...
Coal India Ltd., the world’s largest producer of the commodity, reported a 26% increase in fourth-quarter profit, driven ...
No comments have been posted yet ...