Photo by: Bloombeg
PERTH (miningweekly.com) – Coal exports from Queensland for the first nine months of this year were 3.5% ahead of last year’s record-breaking figures, the Queensland Resources Council (QRC) revealed on Thursday.
The September quarter results reaffirmed the resources sector as a crucial pillar of the state’s economy and placed coal exports in good stead to exceed 2014 levels.
The QRC’s analysis of port export data showed that all four of the state’s major coal ports had exceeded the record-breaking export figures for the first nine months of last year.
Abbot Point reported the largest year-on-year percentage increase, with exports now at 21-million tonnes for the first nine months, up 11% compared with the same period of 2014. Dalrymple Bay Coal Terminal remained the largest exporter with 52.9-million tonnes, followed by Gladstone Port, at 52.7-million tonnes, and Hay Point Coal Terminal at 32.1-million tonnes.
QRC CEO Michael Roche said the results showed that coal continued to deliver for the Queensland economy.
“Despite a slump in commodity prices, coal is still a huge contributor to the Queensland economy. In 2014/15, coal contributed A$32-billion to the Queensland economy and accounted for 11% of all economic activity in the state.”
Roche said that while Queensland producers had increased volumes to keep operations viable in a depressed market, the latest figures also confirmed coal’s long-term future, despite all the naysayers.
“Contrary to claims of activists who are constantly bleating about the end of coal, we anticipate strong and continuing demand from energy-hungry nations across South-East Asia,” he said.
“The uptake of new high-efficiency, low-emission technology will see coal, particularly the high-quality coal found in Australia, play a rapidly expanding role in the future fuel mix.”
Roche said the export figures reflected the ongoing strong demand from steel producers for Queensland's high-quality coking coal.