Australia coal news

QRC pays tribute to “the more than 280 000 Queenslanders working directly and indirectly in the resources sector” following a record export result.

Last Friday, Yancoal Australia Ltd made a confidential application to the Hong Kong Stock Exchange, which if approved, will mean its dual trade on both the ASX and HKEX.

Despite Aurizon’s threat to stop coal movement, exports were higher this year compared to 2017.

According to the latest commodity report from the Department of Industry’s Office of the Chief Economist, coal exports are forecast to overtake iron ore to become Australia’s largest export earner for the period 2018-19.

A new report by the Australian Government has highlighted Aurizon’s “risk” to a record outlook for the resources sector.

Works include mine planning, drill and blast, overburden removal and coal mining at the Northern Hub, which produces hard metallurgical and thermal coal.

Coal mining company Universal Coal has increased expected EBITDA for FY2018 by 27%, up to AUS$70 million.

The troubled rail firm believes controversial changes to its maintenance regime in Queensland will reduce the state’s coal haulage capacity by 20 million tpy in 2019.

Prior to the transaction, Maylion, an indirect wholly-owned subsidiary of Noble Group, held a 40.9% shareholding in EER, a coal exploration and development company.

“Aurizon must stop playing games with Queensland exports and revert back to normal rail maintenance,” says QCA.