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Thermal coal prices soar on China policies, weak supply
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Chinaâs protectionist coal policies and a raft of mine disruptions have driven prices for thermal coal to a three-year high, giving Australian miners a surprise boom less than a year after they were mired in a severe slump.
BHP mines thermal coal at Mt Arthur in NSW . the price for quality thermal coal has more than doubled in 10 months.Â
Janie Barrett
Coal-fired power generation may be declining in developed nations such as Australia but it remains a growing industry in parts of Asia and prices for quality NSW thermal coal have more than doubled in the past 10 months on the back of an economic rebound and Chinese market distortions.
Peabody Energy will reopen its Metropolitan metallurgical coal mine in New South Wales, Australia, in May after it was closed in early January because export orders dried up, Argus Media has reported.
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Highlights
Rolling 12 month total recordable injury frequency rate (TRIFR) at 5.1, down from 10.6 in the prior corresponding period.
Rate of mine (ROM) coal mining performance of 514 000 t for the quarter, reflecting a reduction in fleet capacity.
The Isaac Downs environmental impact statement (EIS) assessment report was finalised by the Department of Environment and Science (DES) and posted on the DES website.
Safety performance
During the March quarter, there was one recordable injury at Issac Plains, with no other injuries recorded at Stanmore’s other projects and tenements. The 12 month rolling TRIFR at the end of 1Q21 was 5.1.
Stanmore continued to operated in the quarter with reset and reduced fleet capacity focusing on higher productivity and lower cost mining equipment and on minimising strip ratios and cost.
Peabody sells Millennium coal mine lawyersweekly.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lawyersweekly.com.au Daily Mail and Mail on Sunday newspapers.