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Coal is not dead

The statement from QRC Chief Executive Ian Macfarlane is as follows: As the Mark Twain saying goes: Reports of my death are greatly exaggerated. And so have been the green activist reports of the death of coal, and more broadly, the resources sector.

Today, it is pleasing to see the Premier Annastacia Palaszczuk and Minister for Natural Resources and Mines, Dr Anthony Lynham, have thrown their support behind the resurgence of Queensland’s mighty resources sector. After such a rough few years, there are definitely green shoots across the entire sector, but we also mustn’t forget those who have toughed it out through hard times. In fact, many of those producers have reached record productivity and export levels during the so-called ‘bust’.

The numbers don’t lie, recent employment data shows that there has been a rise in jobs in the coal sector as well as increased exploration expenditure. Existing operations are producing at record levels, projects that have been on the drawing board have received the green light, and we would anticipate a significant amount of jobs once the Byerwen, New Acland and Carmichael mines begin construction. Let’s not forget our world-leading LNG export industry and the announcements of new natural gas projects including Senex’s Western Surat Gas Project, Arrow’s Tipton Project and QGC/Shell’s Ruby Project.

Population growth and urbanisation across SE Asia means the International Energy Agency has forecast that coal used for energy will still make up 23% of the energy mix and the tonnage of coal consumed will continue to rise. Additionally, there is no viable substitute for coking coal in steel making – there is no ‘uber’ in the wings and you can’t use a solar cell to convert iron ore to steel in a blast furnace. Therefore, our coking coal exports, which make up 75% of Queensland’s coal exports, are not in any short-term danger.

Exploration has received a boost from the Queensland government with a Geoscience data initiative worth US$4 billion that will standardise 60 years’ worth of seismic data and make it available to industry. This is a good investment and the government should expect to see its return on investment through future royalties from resource projects.

Geoscience data underpins all resource development and investment into ensuring the data is accessible which will result in increased exploration activity and discoveries.

The Federal Minister for Natural Resources Matt Canavan has also been a great supporter of Queensland’s natural resources sector, however the Commonwealth has cut funding in 2017 - 18 for the Exploration Development Incentive at a time when there is a critical need to provide the right policy settings that will develop the next pipeline of resource sector projects into the future. For every commercial resource development, around 1000 greenfield exploration prospects must first be investigated.

Published by Louise Mulhall, World Coal, 25 May 2017

This month's top international coal headlines

  • Eskom Policies Cause Shift Among South African Coal Operators — Coal Age
  • South African prices continue to unwind — Argus
  • Strong Richards Bay paper prices lift CIF ARA paper — Platts CTI
  • Delivered-Turkey prices remains stable on lack of new deals — Platts CTI
  • CIF ARA paper finds support from Richards Bay — Platts CTI
  • The Petro-Powers vs. the Greens: is Trump launching a New World Order?
    — Nepal Energy Forum
  • The world got 14.5% of its energy from carbon-free sources last year
    — BP Statistical Review of the World Energy 2017
  • No, solar and wind are not taking over the world — World Energy Outlook
  • Why The Paris Climate Agreement Is Completely Meaningless No Matter What We Do — The Federalist
  • Democrats Have Lost On Climate Change, And It’s Their Own Fault
    — The Federalist
  • Swaziland Rail Link Project Railing Ahead — Railways Africa
  • Fossil Fuels’ Benefits Far Higher Than Social Cost, Study Finds — Energy
  • Molefe removed as Eskom CEO, board might go too — African News Agency
  • Rallying S African prices may fall back on Indian monsoon — Platts CTI
  • Protests on South African Transnet Rail line disrupt coal deliveries — Platts CTI
  • Coal Is Back — POWER Magazine
  • CIF ARA prices follow futures higher, S African cargoes seen available
    — Platts CTI
  • S African Apr exports inch higher on-year — Platts CTI
  • SA April thermal coal exports inch 0.3% higher on-year to 6.19Mt — Platts CTI
  • Ukraine’s anthracite coal stocks up 1.2% on-week on S African imports — Platts
  • Congestion at the Richards Bay Coal Terminal following cyclone builds
    — Platts CTI

2017 archive

May 2017
  • South African and Colombian heard to have gained share in India — Platts CTI
  • The great Australian coal myths busted — Minerals Council of Australia
  • The Impacts of Restricting Fossil Fuel Energy Production
    — American Petroleum Institute
  • The Role of Clean Coal Technology in the Long Term — Clean Coal Division
  • EPA: “The war on coal is over” — World Coal
  • Coal is not dead — World Coal
  • S African coal discounts down on Indian interest, tightness — Platts CTI
  • Discounts for S African 4,800 NAR widen — Platts CTI
  • South African coal interest — Platts CTI
  • Propelling ASEAN towards Clean Coal Technology — World Coal
  • Colombia coal output up 3% in first quarter — Reuters
  • Coal market oversupply risks grow as producers boost output — Reuters
  • South African coal offers to India drying up — Platts CTI
  • Asia prices to head south in H2 2017 on supply overhang, weak demand: Noble — Platts CTI
  • S Africa’s Eskom tenders for 17Mtpa thermal coal for Kusile — Platts CTI
  • The flawed thinking at the heart of the renewable energy swindle
    — Bjorn Lomborg
  • South African coal retains competitive edge in India — Platts CTI
  • South African seen as alternative for Taiwan, South Korea — Platts CTI
  • South Africa competitive — Platts CTI
April 2017
  • South32 amends coal and metals output expectation — Mining Weekly
  • S African March exports edge 0.9% lower on-year to 6.32 million mt
    — Platts CTI
  • Can coal make a comeback? — Center on Global Energy Policy
  • South32 lowers S African FY2016-17 thermal output guidance — Platts CTI
  • South African coal falls as offers pull back — Platts CTI
  • Solving Energy Poverty, Unemployment, and Growth Challenges in South Africa — Cornerstone
  • South African coals sold in India stock-and-sale market — Platts CTI
  • Integration of Global Coal Markets — Energy Analyst
  • An Own Coal? Energy policy in Indonesia — The Australia Institute
  • Tight South African thermal coal availability keeps Indian deals dry — Platts CTI
  • Ukraine’s DTEK to import 600,000t of anthracite from South Africa — Platts CTI
  • Surge in South African prices — Platts CTI
  • Anglo-American sells Eskom-tied coal operations in SA — Platts CTI
  • The Southeast Asian Coal Market – the Next Success Story? — Coal Asia
  • Coal can be more profitable and efficient going forward, expert says — CNBC
  • India favours South African coal — Platts CTI
  • South Africa price surge — Platts CTI
March 2017
  • S African Feb thermal coal exports rise 36.2% on-year to 6.57Mt — Platts CTI
  • Steady flow of South African coal into India — Platts CTI
  • Coal Power Has Taken a Tumble, But Is It the Beginning of the End?
    — MIT Technology Review
  • Indian buyers look to cheaper S African cargoes — Platts CTI
  • Slowed buying of South African coal — Platts CTI
  • Some Miners Are Going Back to Work in Coal Country — FOX News
  • Japan’s renewed commitment to coal — World Coal Magazine
  • Xinjiang to close 117 small coal mines in 2017 — China Daily
  • Coal drags but mining production still on the up — Fin24
  • Indonesia’s Electricity Demand and the Coal Sector: Export or meet domestic demand? — The Oxford Institute for Energy Studies
  • S African unions plan strikes against Eskom coal plant closures — Platts CTI
  • Exxaro unlikely to exercise pre-emptive right over RBCT stake — Miningmx
  • Indian interest for South African coal — Platts CTI
  • Eskom stalling renewable energy agreements costs billions — Business Live
  • Trump is poised to issue a sweeping order dismantling Obama’s climate plan this week — The Washington Post
  • Eskom initiates talks on triggering government support to cover IPP costs
    — Engineering News
  • Mid CV S African coal may displace Indonesian coal into India — Platts CTI
  • Ongoing buying interest for South African 4,800 NAR — Platts CTI
  • Is the Middle East the new home for coal? — Energy Analyst
  • Coal-boosted Exxaro’s earnings soar — Mining Weekly
  • S African coal garners more interest in India — Platts CTI
  • Normal railings resume on S Africa's coal export line — Platts CTI
  • Tightness for South African coal — Platts CTI
  • SA Mining is on its knees – can it be saved?
  • Derailment partially disrupts line to S Africa’s RBCT — Platts CTI
February 2017
  • Steep discounts increase interest for off-spec South African coal — Platts CTI
  • S African Jan exports fall to 6-month low — Platts CTI
  • S African Jan exports fall 8.8% on-year to 6-month low of 5.62Mt — Platts CTI
  • Indian buyers interested in 4,800 NAR S African coal over 5,500 NAR
    — Platts CTI
  • S African coal miners look to domestic market for higher prices — Platts CTI
  • South African coal at slight premium to Newcastle — Platts CTI
  • Eyes on South African supply — Platts CTI
  • Coal Will Be One of the Cleanest Uses of Technology That We Have, Says Sean Spicer — The Independent
  • White House Press Secretary: We’re Going to Bring Back Coal in an ‘Environmentally Friendly’ Way — Greentech Media
  • Australian versus South African coal — Platts CTI
  • High South African prices deter buyers — Platts CTI
January 2017
  • S Africa’s Universal Coal concludes export agreement — Platts CTI
  • Richards Bay coal struggles to find market on high price — Platts CTI
  • Platts to launch netback FOB Richards Bay 6,000 NAR calculated quote
    — Platts CTI
  • South African demand dwindles — Platts CTI
  • Colombian thermal coal exports rise 9% in 2016 to record 88Mt — Platts
  • Some interest for Mozambique coal — Platts CTI
  • Richards Bay 6,000 NAR netback calculation proposed — Platts CTI
  • Coal production declines in 2016, with average coal prices below their 2015 level — U.S Energy Information Administration
  • South African Nov thermal coal exports up 6.5% on-year to 23-month high
    — Platts CTI
  • Richards Bay FOB spot loses almost $2, trades for third straight day
    — Platts CTI
  • South African material sees interest — Platts CTI
  • South African FOB spot loses $3 on lower offers — Platts CTI

2016 archive

 

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