Queensland coal exports set new record

QRC Chief Executive Ian Macfarlane said the 11% increase on the same month last year highlighted the increasing demand from world markets for Queensland’s coal.

“Queensland’s coal is the commodity of choice with our high quality thermal coal needed to power high efficient, low emissions coal-fired power plants in Asia and our metallurgical coal used to make steel is building the bridges and skyscrapers in modern cities,” Macfarlane said.

“The 215 000 men and women working across Queensland’s coal industry can be proud of this achievement and it means more jobs and more revenue for Queensland. Last financial year Queensland’s resources sector paid a record AUS$5.2 billion in royalty taxes with coal contributing AUS$4 billion (AUS$12 million/day) to the Government to help build new schools, hospitals and roads.

“But if we are to support jobs at home and export to the world it is essential that we have stable and reliable regulation for our resources sector in order to attract new investment which benefits every Queenslander. People want industry and Government to work together with communities and wider society to promote effective, constructive, and mutually beneficial relationships.”

The data from Queensland’s major ports found the majority were operating above average monthly volumes with the Port of Gladstone recording a 5 million t increase in coal exports resulting from improved efficiencies and growing demand from overseas customers.

“Queensland’s exports from all resources earnt over AUS$70 billion for the 12 months to May this year for the first time which represents 81% of the State’s record export earnings of AUS$85.8 billion. In dollar terms, exports from the resources sector – coal, minerals and gas – are worth more than AUS$190 million every day,” Macfarlane said.

Read the article online at: https://www.worldcoal.com/power/16072019/queensland-coal-exports-set-new-record/