QLD sees record 2014 coal exports

QLD has recorded a spike in coal exports in the face of a wider global coal downturn.

The state saw almost 216 million tonnes exported in 2014, higher than previous guidance, and a consistent rate of growth from 168 million tonnes and 196 million tonnes in 2012 and 2013 respectively.

According to Queensland Resources Council data Gladstone topped the exporters with 69.9 million tonnes, followed by Dalrymple Bay at 67.5 mt, Hay Point with 40.8 mt, Abbot Point at 22.9mt and Brisbane rounding it out at 8 million tonnes.

"What we are seeing are Queensland coal producers replacing the high prices of a few years ago with the volumes necessary to keep their operations viable in a currently depressed market," QRC CEO Michael Roche said.
"Queensland producers are saying to overseas customers that they are here for the long haul with the reliable supply of a range of high-quality coals.
"Their first goal must be to outperform competitors attracted to the export market by record prices that peaked around 2009-10," he said.
"Hence, their constant and ongoing attention now to higher efficiency and cost reductions, which have been aided on the revenue side to some extent – but not nearly enough – by a lower Australian dollar."
Roche went on to highlight the important role the sector plays in QLD's economy ahead of a snap election later this month, stating "the coal industry alone is responsible for about 13 per cent of the state’s economic output and 10 percent of total employment".
"It also provided more than $1.9 billion of the $2.5 billion in royalties paid to the state government last financial year that went to help pay for essential services such as hospitals, schools and roads.
"‘It is especially important during an election campaign that Queenslanders understand the roles and contribution of the coal industry, from keeping the lights on at home and the economy ticking over to helping developing countries house, clothe and feed their citizens."
While QLD has been pushing for increased export and supply, other states have looked at decreasing supply.
Glencore recently closed its NSW coal mines over the Christmas period in an effort to comabt the current market oversupply.
Anglo American CEO Mark Cutifani has also forecast the likelihood of more coal mines either shutting down or suspending operation until a reduced supply drives a price recovery. 

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