Australia’s coal exports set new record in 2017
Australia’s coal exports value reached a new record of $56.5-billion in 2017, Minerals Council of Australia coal executive director Greg Evans said on Wednesday.
The new coal export value record, at 35% higher than in 2016 and $10-billion higher than the previous record of $46.7-billion in 2011, indicates the strength of Australia’s second-largest export.
Iron-ore exports held the top spot with an export value of $63.3-billion.
During 2017, 200-million tonnes of thermal coal exports, worth $20.8-billion, had been reported, along with 172-million tonnes of metallurgical coal exports, valued at $35.7-billion.
Asia, from established north Asian markets to the fast growing economies of Southeast Asia and India, remains the top export destination.
“Southeast Asia is emerging as a significant new market for Australian coal owing to its recent investments in high efficiency, low emission coal-fired power plants significantly reducing greenhouse gas emissions. Exports to this market were worth about $2-billion in 2017,” said Evans.
Export revenue coal continues to make a significant contribution to the domestic economy and provides 75% of the generation in the National Electricity Market, over 51 000 direct jobs and $5-billion in royalties every year.
Source: Mining Weekly