Even with both federal and state labor going out of their way to destroy thousands of jobs in the coal sector, claiming is a a dead industry, it seems they may be just another bunch of lying idiots like the greens.
Resources loves the renewable industry, idiots willing to pay top dollar for intermittent power backed up by coal & gas. Metalliferous mining digging up the minerals to make turbines and panels to produce expensive intermittent power so dumb-arsed socialist can feel good that we are doing something about out 1% GHG emissions.
Cha fkken Ching miners.
COAL prices are soaring again, with thermal prices at six-year highs and coking coal looking to push through the $US200 ($A262) a tonne barrier.
Spot prices for thermal coal cargoes for export from the Newcastle terminal have reached $US115.25 a tonne – the highest level since February 2012.
The price of Australian coal used for electricity generation has risen to its highest level since 2012 as hot weather across north Asia spurs demand ahead of the peak season.
“Supply is tight out of Australia. What has also happened is exports out of South Africa are down,” said Shane Stephan, managing director at New Hope, Australia’s third-biggest independent coal producer.
“That opens up the market for more Australian coal into Asia.”
The increased demand has led to a traffic-jam of dozens of ships waiting at Newcastle to load coal.
“You are seeing some real competition for access to thermal coal during this restocking phase in Asia,” Mr Stephan said.
“I suspect that pricing could go a little higher yet.”
Queensland operator TerraCom looks likely to generate sales of at least $48 million for the September quarter with its $1 Blair Athol coal mine, in the Bowen Basin, meeting demand in the Asian markets.
https://www.couriermail.com.au/business/increased-demand-from-asia-pushes-up-aus...