Australian coal exports soar despite Covid-19 pandemic

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Australia’s coal exports in December increased by an impressive 26% from November despite recent global challenges, according to latest trade data.

Minister for Resources, Water and Northern Australia Keith Pitt said the figures confirmed the resilience of Australia’s resources sector and reinforced the importance of coal as an Australian export commodity.

“Coal was worth $3.7 billion to the Australian economy in December alone as exporters looked to fill gaps in international markets and made the most of the increase in thermal coal prices,” Minister Pitt said.

“In the middle of the northern hemisphere winter, it’s not surprising that thermal coal accounted for most of the increase to meet the demand from power utilities.

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“Coal sales to Vietnam and India were stronger, reaffirming the competitiveness of Australian coal, and its reputation for high quality in global markets.”

He said the trade data also confirmed that despite the global challenges presented by the COVID-19 pandemic, Australian resources and energy exports were valued at $272.5 billion in the 12 months to December.

“The result is a great testament to the work of our resources industry to maintain full operations throughout 2020 as the coronavirus pandemic wreaked havoc on many other industry sectors across the world,” the Minister continued.

“These results are also an encouraging sign that many countries are looking to resume industrial production as economies recover and that is good news for the Australian resources sector.”

Image from www.industry.gov.au