5.9k Share this
As China works to cut energy exports and tap into it’s own coal reserves, demand for Australian exports will take another blow.

Analysis from experts at Australian National University found demand for overseas thermal and metallurgical coal will fall by at least 26 per cent between 2019 and 2025.

Should China deliver on its commitment to reach zero net emissions by 2060 then those imports could fall to 45 per cent between this period.

An analysis found China’s demand for overseas thermal and metallurgical coal will fall by at least 26 per cent between 2019 and 2025. (AAP)

“Our findings are clear; Beijing’s plans for rapid decarbonisation and energy security signal the end for Australia’s current coal export boon,” lead author of the study Dr Jorrit Gosens said

“And this isn’t going to happen far off into the future; it is imminent.

“When it comes to coking coal imports, Australia is the country that stands to lose the most. Australia’s coking coal exports to China are expected to fall to between 20 and 22 megaton, down from close to 30 megaton in 2019.”

China initiated a ban on imports of Australian coal in October 2020 and over the years has invested in infrastructure — such as rail line capacity between coal fields — to reduce dependency on foreign energy.

However, before this ban Australia exported 38.6 million tonnes of thermal coal and 31.6 million tonnes of metallurgical coal to the superpower.

The government will spend $6m on two new power projects including coal-fired plant.
The government will spend $6m on two new power projects including coal-fired plant. (Getty)

Study co-author Professor Frank Jotzo said the changes will have long-lasting impacts on the Australian economy.

“Our findings should be of high concern to the coal industry and to Australian governments. Coal will be on the way down,” he said.

“We need to foster alternative economic futures. Australia’s resource and energy industries have every opportunity to prosper in a low-emissions world

“Our findings illustrate how energy security concerns, a fracturing global security and trade landscape, combined with climate action are putting the squeeze on coal – not in the distant future but imminently.”

The findings come amid increasing tensions between Australia and the superpower.

Chinese Premier Li Keqiang, left, and Solomon Islands Prime Minister Manasseh Sogavare review an honour guard during a welcome ceremony at the Great Hall of the People in Beijing, Wednesday, Oct. 9, 2019. (AP Photo/Mark Schiefelbein) (AP)
China and the Solomon Islands this week signed-off on a controversial security pact, putting the Australian, US and New Zealand governments on-edge.

It allows China to send police and military personnel to the Solomon Islands “to assist in maintaining social order,” and will allow warships to stop there for “logical replenishment.”

The situation is putting pressure on the election campaign and was the subject of a clash between Prime Minister Scott Morrison and Opposition Leader Anthony Albanese over security and defence in Australia at last night’s leader debate.
Japan – $66.3 billion

Countries with the highest military expenditure in the world

Both the Coalition and the Opposition are “pro-coal”.

Source: 9News

5.9k Share this
You May Also Like

Liberal party likely to move further right amid search for new opposition leader

A “bulldozed” Liberal party is likely to move further to the right…

Gas Prices Shatter Records for 11th Consecutive Day

The national average price for a gallon of regular gas shattered records…

Militant rail unions step up ‘summer of chaos’ strike threats on railways and Tubes

Britain’s left-wing union bosses today stepped up plans for their ‘summer of discontent’…

Veteran Australian TV journalist and presenter Caroline Jones dies, aged 84

Australia’s media industry is mourning the death of veteran journalist and presenter…

Border Patrol Arrests Cartel Member Previously Wanted for Murder of Mexican Politician

Federal authorities arrested a cartel member who was at one point wanted in…

Kyiv issues ban on swastika-like ‘Z’ symbol as new bill outlaws use of Russian propaganda sign 

Kyiv issues ban on swastika-like ‘Z’ symbol as new bill outlaws use…

China Sends Its Most Powerful Bombers near Japan as Biden Arrives in Asia

China’s military deployed its “most powerful bombers” to conduct drills near Taiwan…

Elon Musk (sporting some very bizarre facial hair) meets Brazilian president Bolsonaro in Sao Paulo

Elon Musk was in Brazil on Friday to meet President Jair Bolsonaro…