Coal is expected to surpass iron ore and become Australia`s highest export value for the first time since 2009 / 10. (photo by Australian Financial Review)
Coal will overtake iron ore to become Australia`s biggest exporter of fiscal value and boost the local economy, while the ruling and opposition parties have cast aside environmental policies to reduce reliance on coal and coal-fired power plants.
According to the Quarterly Journal of Resources and Energy, published by the Federal Ministry of Industry, Innovation and Technology (government), (Resources and Energy Quarterly) revealed that Australia`s coal exports to Asian countries have increased significantly, and that Australia has surpassed Qatar as the world`s largest exporter of liquefied natural gas. Australia is expected to export a record $264 billion worth of resources and energy products to foreign buyers in 2018 / 19.
It estimates that the total value of coal carbon exports will reach 67 billion yuan, exceeding the total value of iron ore exports by 64 billion yuan-the first time in nine years that the value of coal carbon exports will exceed iron ore.
Despite efforts by the Greens and environmental groups to push for a gradual reduction in Australia`s total export of coal for power generation by 2030 and a ban on the construction of new coal mines, Australia`s coal-carbon exports are booming.
Environmentalists have put pressure on the federal and provincial labour parties to push for green energy and reduce carbon emissions. The Labour Party`s government in Kunzhou has been asked to stop India`s Adani (Adani) Group from planning to build Australia`s largest coal mine in the middle of the province, although Adani has recently revised its plan due to difficulties in raising sufficient funds. Reduce the size of investment in mines to 2 billion yuan.
In international markets, steel-making coal prices rebounded to $200 a tonne in December, amid fears that supplies might be constrained.
Australia`s export of steel coal to foreign countries is expected to reach 41.1 billion yuan in the current fiscal year, mainly to Chinese steelmakers. The export value of power generation coal is expected to reach 29.5 billion yuan.
However, the fastest growth in export value, from 19 billion yuan in fiscal year 2016-17 to 31 billion yuan in 2017-18, is expected to reach 50 billion yuan in 2018-19.
The Federal Department of Energy alleges that resource and energy exports make a significant contribution to Australia`s economic growth, business prosperity and improved social life.
