The Asia Miner

JUN 2018

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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Page 13 of 51

the asia miner • volume 15 • issue 2 12 FEATURE: Future of coal of thermal coal valued at $20.8 billion, and 172Mt of coking coal valued at $35.7 billion. According to Minerals Council of Australia ExecuƟve Director, Coal, Greg Evans, growth in key Asian markets for high-quality Australian coal will conƟnue to underpin Australia's coal exports with increasing demand forecast over the medium term. Australia's comparaƟve advantage in minerals and energy exports is not simply a funcƟon of its natural endowments. Rather, this comparaƟve advantage has to be achieved by producƟve firms that are prepared to bear the risks of invesƟng, employing and innovaƟng to derive market value from mineral resources. Australia's mining industry is increasingly focused on integraƟng new technology and ideas into its operaƟons. THE BOWEN AND SURAT BASINS The Bowen and Surat basins are located in central and south-west Queensland. Bowen basin contains Australia's largest coal reserves (especially high quality metallurgical coal), with almost all of Queensland's operaƟng coal mines in 2014- 15 being located in the Bowen basin. Due to this abundance of coking coal, Queensland has become the world's largest exporter of seaborne-traded metallurgical coal, exporƟng upwards of 68 million tonnes of metallurgical and thermal coal (TMR, 2016). MONGOLIA According to the Annual BulleƟn of Mining and Geology: Mongolia 2016, the mining sector conƟnues to be the main pillar of economic growth and development in Mongolia. As stated in the report, the mining sector in recent years has contributed to approximately 20% of the GDP, approximately 60% to the industrial output and about 80% of total exports. As reported by Mongolia's NaƟonal StaƟsƟcs Office, coal exports dropped by nearly a quarter in January from a year earlier, to 1.995 million tonnes, with a drop in value of 18.45% at $138 million. With 90% of Mongolia's total January exports desƟned for China, deliveries disrupted by ongoing boƩlenecks at the border with China that stretched 100 kilometres into the Gobi Desert, forced Mongolia to suspend coal deliveries to clear the key supply route. According to industry sources based in Ulaanbaatar, Chinese drivers were protesƟng against the Mongolian authoriƟes' increased enforcement of rules requiring drivers to pay Mongolian taxes and social insurance in order to receive permits to deliver coal. Even though the road is now operaƟonal, companies have been issued quotas to restrict the number of trucks allowed to use it. The government also plans to open a new route for coal trade to reduce congesƟon. Summary of Bowen-Surat region, one of Australia's richest coal deposits. Source: DeloiƩe Access Economics (2017)

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