- Write by:
-
Wednesday, January 27, 2021 - 12:41:19 PM
-
517 Visit
-
Print
Mining News Pro - Australia has overcome China’s alleged coal import ban, with exports increasing during December, according to Australian Minister for Resources, Water and Northern Australia Keith Pitt.
The value of Australia’s coal exports increased by 26 per cent compared with November, with thermal coal accounting for most of the increase to meet demand during the northern hemisphere’s winter.
Pitt said this result was a demonstration to the resilience and hard work of the Australian resources industry to maintain full operations during the COVID-19 pandemic, which shut down many other industry sectors globally.
“Coal was worth $3.7 billion to the Australian economy in December alone as exporters looked to fill gaps in international markets and made the most of the increase in thermal coal prices,” Pitt said.
“Coal sales to Vietnam and India were stronger, reaffirming the competitiveness of Australian coal and its reputation for high quality in global markets.
“This again reinforces the importance of coal as an Australian export commodity and that it will remain so for many years to come.”
Australia’s resources and energy exports were valued at $272.5 billion in the 12 months to December 2020, as many worldwide economies recovered from the COVID-19 pandemic and resumed industrial development.
“The result is testament to the work of our resources industry,” Pitt said. “Many countries are looking to resume industrial production and that is good news for the Australian resources sector.”
China’s imports of Australian coal dropped by 47 per cent last October compared with the same time in 2019, as trade tensions escalated between the two nations and China reportedly banned several Australian imports, including coal.
In 2019, Australia supplied more than 57 per cent of China’s thermal coal and 40 per cent of its coking coal imports, according to International Energy Agency Clean Coal Centre.
Short Link:
https://www.miningnews.ir/En/News/610223
Private credit managers are doing significantly more fossil-fuel deals now than just a few years ago, as they step into ...
Several people have been killed in Liberia in an accident at an abandoned gold mine, the West African country’s mines ...
Iron ore futures edged higher on Monday, supported by hopes of further recovery in demand in top consumer China and ...
China’s steel industry is young compared to Europe’s, and its transition to net zero may be slower as it takes a ...
Awalé Resources (TSXV: ARIC) stock soared on Monday after the Newmont-backed gold explorer reported outstanding assay ...
Iron ore futures tumbled in Singapore, extending a stretch of volatile trading amid deepening anxiety over Chinese ...
South African coal miner Exxaro Resources is considering potential deals to acquire copper and manganese assets as part ...
A Polish coal mine near the Czech border will be able to continue operating for now, the state news agency PAP reported ...
Vista Gold has released an updated feasibility study for its Mt Todd gold project in Northern Territory, Australia, to ...
No comments have been posted yet ...