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Coal poised to remain the main source of power in Australia

Australia and Indonesia are expected to produce 85-90 percent of the total thermal coal in the region, accounting for around 12 percent of the global coal production. The government support has lifted the Australian coal sector by handing approvals to new coal mines, including the Adani Carmichael coal mine, Kevin’s Corner coal mine, Olive Downs coal mine, among others.

Coal has continued to be the main source of power in the last few years across Southeast Asia and Australia. It is poised to remain the most important source in the upcoming decade as well. Currently, coal is a practical commodity to stimulate affordable electricity at a decent rate to boost the economic growth in these countries. 

According to Fitch Solutions, stricter environmental standards are likely to impact the coal sector, delaying project development and increasing compliance costs. However, all that is not going to disrupt the operations altogether, but limit the growth of coal miners to some extent. The initiative to reduce the carbon footprints has gained momentum over the last couple of years and the coal sector is complying with the regulatory framework to operate in a seamless manner.

Australia and Indonesia are expected to produce 85-90 percent of the thermal coal in the region, accounting for around 12 percent of the global coal production. The government support has lifted the Australian coal sector by handing approval to new coal mines, including Adani Carmichael coal mine, Kevin’s Corner coal mine, Olive Downs coal mine, among others. These mines will boost the production and limit the emissions, on the back of high-quality coal with low impurities. 

Recently, the New South Wales government had also given a green signal to 23 new coal mines or mine expansions in the region. Although the move received fair share of criticism, the authorities are likely to allow the operations to go ahead as planned. Similarly, many new coal mines, including Adani Carmichael coal mine are likely to start the production in Queensland in the coming 12 months or so. 

As a result, the coal production growth in Australia is likely to remain constant and gradually witness a slight increase from 297 million tonnes in 2021 to 298 tonnes in 2030. With a number of companies in the power sector vouching for abundant coal supply to meet the demand, the government is expected to let the sector operate in a friendly environment. 

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