Business
China sends coal miners a message with ‘symbolic’ Indonesia pact – The Australian Financial Review
China’s vague pledge to buy more Indonesian coal is rich in symbolism rather than substance, but either way it is not good for Australian miners.
”While we expect such an agreement is largely symbolic it appears China is signalling that it intends to maintain the ban on Australian coal and is looking to provide Indonesian producers with the certainty that will allow them to plan to fill the gap,” he said on Monday.
Indonesian thermal coal typically has a lower energy content than the coal Australia sells to North Asia, and therefore cannot be used as a direct substitute for Australian coal in power stations unless power generators blend…
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