New Chinese government coal import regulations designed to cut air pollution could mean more drops in exports for the coal mining industry.
Experienced mine cost data analyst and head of coal at AME Group, Linda Taglieri, said China's announcement had already impacted the thermal coal market.She said China's imports had already fallen by 12% in the first part of this year.
Ms Taglieri told attendees at the Queensland Government-organised Major Projects Conference on Thursday it would be a trend for China as the country moved in the direction of renewable energy and against coal.
But she said there was demand for thermal coal in India.Ms Taglieri said the country's coal was currently sourced from Indonesia, but if India wanted to improve its efficiency it could look to Australia.
A senior figure from Indian mining giant Adani Group who is based in Australia, Sandeep Mehta, said India offered the biggest possibility for coal export.The Ports at Australia Adani chief said India would have a need for coal in the foreseeable future, and "as much of it as we can get".
Mr Mehta said both coal and gas would be critical for India's future.He is part of the team working on the Carmichael Mine in the Galilee Basin.Mr Mehta said the project had the potential to be Australia's largest coal mine.
Source:- gladstoneobserver.com.au
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