- Write by:
-
Friday, May 7, 2021 - 13:03:41
-
578 Visit
-
Print
Mining News Pro - A Minerals Council of Australia (MCA) report has revealed that more than 60 per cent of the world’s seaborne coal exports come from Australia, with second place hardly keeping its head above water.
The report detailed the quality and importance of Australian coal and was the second in a series called ‘Best in Class: Australia’s Bulk Commodity Giants’.
Written by industry expert Anthony Le Bas, the report, titled ‘Australian Metallurgical Coal: Quality Sought Around the World’, details how more than 96 per cent of Australia’s metallurgical coal is exported overseas, with India, China and Japan three of the key markets.
MCA chief executive officer Tania Constable emphasised the importance of the report and its subject matter in a global context.
“Metallurgical coal is a critical component for steel making and Australia’s quality attracts customers from around the world from Asian countries such as India, China, Japan, South Korea and Taiwan all the way to the EU,” Constable said.
Australia is easily the largest exporter of metallurgical coal in the world, with exports worth more than $40 billion. After our 184 million tonnes exported annually, the next largest exporter in 2019 was the United States with 50 million tonnes.
The report stated that in 2019, India accepted the most metallurgical coal imports from Australia, at over 45 million tonnes, while China sat just above 40 million tonnes.
Australia’s workforce relies heavily on the production of metallurgical coal and Constable highlighted just how important it is.
“Australia’s world-leading metallurgical coal mines provide jobs for thousands of Australians in regional areas and contribute significantly to the local and national economy, and these areas are well placed to continue producing metallurgical coal for years to come to support global growth and infrastructure development,” Constable said.
While the report said only 30 per cent of global steel is made using an electric blast furnace (EFC) as compared to 70 per cent in a blast furnace (BF), both the report and Constable acknowledged how the need for low-carbon technologies in the coal and steel making industry is becoming a higher priority.
“MCA member companies are already taking action to further reduce emissions from the use of metallurgical coal,” Constable said.
“The accelerated deployment of existing low emissions technologies and greater research and development of new and emerging technologies will be required to ensure the world is able to achieve the emissions reduction goals of the Paris Agreement.”
Short Link:
https://www.miningnews.ir/En/News/613411
China’s state planner on Friday finalized a rule to set up a domestic coal production reserve system by 2027, aimed at ...
The world’s coal-fired power capacity grew 2% last year, its highest annual increase since 2016, driven by new builds in ...
Peabody Energy Corp. shares sunk to the lowest in seven months after the biggest US coal miner warned that first-quarter ...
Polish government is abandoning plans to separate coal-fired power plants into a special company and is considering ...
Rio Tinto said on Wednesday it is teaming up with a global venture studio and start-up investor to back the development ...
BMO Bank quietly dropped its policy restricting lending to the coal industry in late 2023, helping it avoid being ...
Researchers at the University of Edinburgh discovered that bacteria found in areas polluted by acid mine drainage had ...
BMO Bank quietly dropped its policy restricting lending to the coal industry in late 2023, helping it avoid being ...
Australian space exploration company Fleet Space Technologies has successfully deployed its next-generation Centauri-6 ...
No comments have been posted yet ...