New data has shown that New South Wales’ coal exports have increased by six per cent over the past financial year, with almost nine million additional tonnes shipped to international markets amid stronger demand across Asia.
The data from Coal Services outlined that NSW exported almost 162 million tonnes (Mt) of coal during the financial year, with Japan accounting for the largest increase in demand as exports to the country rose by 6Mt to 71Mt.
“Coal is our state’s most valuable export so it’s great for the NSW economy that demand for our high-quality resources remains strong,” NSW Minerals Council chief executive Stephen Galilee said.
“With strong coal export volumes, more coal mining jobs, and record coal mining royalties flowing to the NSW Government it is more important than ever to ensure a sensible and balanced approach is taken to policies impacting the sector.”
NSW coal exports to Taiwan also increased by more than 4Mt to 19.6Mt, while exports to South Korea rose by 3Mt to 8Mt.
Thermal coal drove the majority of the growth, with exports of energy-producing coal increasing by 6.5 per cent during the financial year as regional markets seek to secure energy supplies.
The latest increase takes NSW coal exports to a level 80 per cent higher than two decades ago. Coal remains NSW’s most valuable export commodity, generating more than $26 billion in export revenue for the state each year.
“Right now, there are a number of coal mining projects in the NSW planning system waiting on approvals, including the critical Hunter Valley Operations Continuation Project,” Galilee said.
“There are 1,500 direct mine workers, thousands more in 750 local supply businesses and the entire local community hoping and praying that this project will be approved.”
“It’s clear there is strong ongoing demand for NSW coal. Our state is in a good position to make the most of the opportunities afforded by this demand if we can approve these critical mining projects already in the planning system.”