Demand from the Asian market is pushing prices for both thermal and coking coal up and, according to analysts, the trend is set to continue.
So much so, a study commissioned by the Minerals Council of Australia predicts a 400 million tonne increase in annual demand by 2030 — double Australia’s total thermal coal export level in 2017.
As demand for Australian coal escalates, an horizon dotted with coal ships waiting to enter Newcastle Harbour — the world’s largest coal port— is a typical sight.
Executive director for coal Greg Evans said the increase in demand built on last year’s market turnaround.
Kestrel is an underground coal mine located in the Bowen Basin, Queensland, Australia. It is operated by Rio Tinto Limited (‘Rio Tinto’). The Group owns 50% of certain sub-stratum lands which, under Queensland law, entitle it to coal royalty receipts from the Kestrel mine.