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dragline kaleb and Gino President of Junior Crushers Sean Daly with Special Guest Nick Cotric who was named Rookie of the Year for Canberra Raiders csg Construction csg Aboutusgeneric_2 Port The Gavin Daly Memorial Shield was won by Bailey Keabel and Jack Pidgeon seen here with Sonia Daly mine Greg Byrne, Downing; Ian Reed, QNP Steve Beale and Chris Dunphy, MIPEC (L-R) Bronte and Fallon Under 15's Award Winners fifo
dragline kaleb and Gino President of Junior Crushers Sean Daly with Special Guest Nick Cotric who was named Rookie of the Year for Canberra Raiders csg Construction csg Aboutusgeneric_2 Port The Gavin Daly Memorial Shield was won by Bailey Keabel and Jack Pidgeon seen here with Sonia Daly mine Greg Byrne, Downing; Ian Reed, QNP Steve Beale and Chris Dunphy, MIPEC (L-R) Bronte and Fallon

Record production not end of coal.
CURRENT facts challenge speculation about the future for coal.
Wednesday 17 June 2015  

DESPITE all the speculation about the end of coal, demand for the resource in Queensland is at record levels.

Exports of coal from Queensland are expected to reach around 220 million tonnes for the current financial year, up around 5 per cent on last year.

Most of the demand is for Queensland’s unique steel making coal and is coming from Asian industrialising economies like China and India and developed economies like Japan and Korea.

Queensland Resources Council chief executive Michael Roche said they are expecting further increases.

“In the medium term we expect those Queensland export numbers to increase with the growth in demand for Queensland thermal coal from energy hungry nations such as India,” he said.

“The Indian minister for state power, coal and renewable energy, Piyush Goyal recently said that coal will remain the mainstay of India's energy needs.

“From 2017, India's new coal-fired projects require high-energy low-ash coal and India's domestic coal is largely high-ash low-energy.

“There are 300 million people in India who don't have access to basic electricity and the Indian government has been clear it wants to change that.

“Despite the claims of the well-funded anti-coal activist campaign, the future looks bright for Queensland coal to meet strong energy and steel demand in developing nations.”

While it could be argued that the increasing supply of super low cost Australian coal onto the world market is causing the current low prices, the fact that a market exists for so much coal underscores that there is very strong underlying demand for it.

Which is in stark contrast to the growing chorus of people speculating about the gloomy future for the commodity.

This week a controversial ABC program titled “End of coal” raised questions about the industry's future.

However local miners have claimed the program failed to identify some key facts about Queensland coal production.

“No way balanced,” one miner said.

“They just smashed coal for its thermal uses, and argued about the cost of keeping it clean, without any reference to quality.

“Only once, maybe twice, did they mention coking coal and its requirement for steel making.”

 

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