Tag: Trade

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…

China-US deal boost for coal trade

China-US deal boost for coal trade

AUSTRALIAN coal producer Whitehaven Coal sees a silver lining for global coal markets from the signing of the first phase of a trade deal between China and the US on Wednesday. Whitehaven Coal said in a production update to the ASX that the easing of China-US trade tensions should improve market conditions for metallurgical coal, a key ingredient in steel production in China, and for thermal coal used in power stations to generate electricity. “The metallurgical coal market recovered in late 2019 from the lows experienced mid-2019,” the company stated. “The dynamics of the steel market are impacted by the trade tensions between China and the US, so the signing of the Phase 1 trade deal should have a welcome…

Funding boost for critical minerals

Funding boost for critical minerals

THE Federal Government has announced new financing measures for the rare earths and critical minerals sector – particularly those strategically important for defence end-use. Projects which boost our ability to extract and process critical minerals in Australia will be eligible for financial support through Export Finance Australia (EFA), including the Defence Export Facility. Projects will also have access dual funding through the EFA and the Northern Australia Infrastructure Facility (NAIF), as well as a dedicated project facilitation office within the Department of Industry. Resources and Northern Australia Minister Matt Canavan said the financing options would secure the future of rare earth and critical mineral projects and would allow Australian companies to maximise access to existing government support to expedite new…