Tag: China

Australian coal finds new markets

Australian coal finds new markets

Australian has found alternative markets for coal and copper to fill the void left by Chinese trade sanctions, according to a new report by the Lowy Institute. The mining industry was bracing for a double whammy when China’s trade war with Australia started hitting the headlines just a couple months after the pandemic struck. Exports of coal, copper, barley, beef, cotton, seafood, sugar, timber and wine to China were worth roughly $25 billion in 2019. Based on the three months to January 2021, the value of these exports had plummeted to about $5.5 billion a year. However, an analysis by Lowy Institute chief economist Roland Rajah concluded the trade spat had not cost Australia the $19.5 billion gap between the…

Human cost of stranded ship

Human cost of stranded ship

The Federal Government has called on China to resolve a standoff involving an Indian ship carrying Australian coal, one of more than 50 currently stranded off the Chinese coast. Trade minister Simon Birmingham raised concerns about the welfare of the Indian seafarers who remained on board, while making a broader appeal to the Chinese government to cease “what seems to be a recurring targeting of some Australian industries”. The Indian-flagged vessel carrying coal from Australia arrived at the port of Jingtang in mid-June but has been waiting five months to be allowed to berth. Mr Birmingham said crew on board the vessel were in need of urgent relief and are mentally and physically exhausted due to unprecedented prolonged stay on board.…

Elixir Energy well positioned to meet China’s booming natural gas demand

Elixir Energy well positioned to meet China’s booming natural gas demand

By Meagan Evans CHINA is set to see a massive lift in demand for natural gas with current usage rates set to more than triple over the next 15 years. This comes as the Chinese government pushes for a switch to cleaner energy sources from coal, implementing policies to reduce sulfur dioxide and nitrogen oxides emissions and bring up the number of days with good air quality to 80%. To achieve this, it’s encouraging a switch from coal to natural gas, aiming for natural gas to account for 10% of energy consumption this year — a policy that is understandably driving significant growth in natural gas demand. China is not the only country increasing its use of natural gas. Global demand…

Coronado sells US coal to China

Coronado sells US coal to China

CORONADO, the operator of the Curragh coking coal mine in Queensland, has announced it has sold two shipments of its Buchanan coal to China as trade tensions eased between China and the US. The Brisbane-based coal producer restarted shipments of its low-volatile Buchanan coking coal to China in November, concluding the deal for two cargoes in anticipation of a resolution to the China-US trade tensions. Hailing the recent signing of Phase One of the China-US trade deal which includes US metallurgical coal exports, Coronado said there is now a clear export pathway to China for Buchanan coal which is mined in Virginia. Buchanan mine realised coal sales of 0.8mt in the October-December 2019 quarter, down 21.7pc from 1mt in the…

Re-strategising integral to WA economy

Re-strategising integral to WA economy

By Jane Goldsmith March 2015 WA resources companies need to reassess their business strategies and operations in the wake of China’s slowdown, according to an international advisory and procurement firm. The Beijing Axis founder and managing director Kobus van der Wath said WA industry had already felt the impact of China’s slowdown with plunging commodity prices and mass layoffs, but new opportunities could be leveraged in a post-mining boom era. “The beginning of 2015 has already seen significant bilateral developments in the agriculture, air services and property sectors,” Mr van der Wath said. “With the milestone achievement of the Australia-China free trade agreement last year, one can certainly expect an expansion and a shift in the strategic relationship between these…