Business
‘Tumultuous time’: Australia’s coal miners face $17b export collapse – Sydney Morning Herald
Australia’s coal miners are headed for a sharp collapse in export earnings this year as the shock of the downturn persists.
Describing the thermal coal market as “tumultuous”, the report notes a combination of factors had driven thermal coal prices to levels not seen in 14 years. These included the virus-driven industrial downturn weighing on energy consumption, a hardening of China’s import restrictions to support its local suppliers, and the ongoing transition away from coal-fired electricity to reduce emissions, the report said.
“At current prices, a significant proportion of Australian thermal coal production is…
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