A commitment to continued coal mining

Australian coal will not be staying in the ground while it continues to provide thousands of jobs and bring significant economic benefits both here and across the world. And it will be supported by new technology including carbon capture. That comes from Minister for Resources and Water Keith Pitt who said coal remained Australia’s second largest export and that won’t be changing any time soon despite suggestions otherwise from London-based academics . Hon Keith Pitt “The reality is that global demand for Australian coal is increasing and forecast to continue rising into the next decade at least,” Minister Pitt said. “Australia accounts for approximately eight per cent of the world’s thermal and metallurgical coal production, which is exported to over 25 countries including the UK, Germany and New Zealand. “Our coal is providing the power and steel-making capability to developed and developing nations throughout Asia, creating economic and social opportunities for millions of people,” Mr Pitt said. “That translates to around $50 billion in exports and the industry provides direct jobs for over 50,000 Australians and supports the jobs of another 300,000. Exports supporting services The coal industry paid more than $3 billion in royalties last financial year which made a significant contribution to health services, schools and other essential services Australians relied on said Mr Pitt. “With coal prices currently now back at near record highs, the royalties and taxes paid by the industry will make an even more important contribution to the national economy as our recovery from the global COVID pandemic continues,” he said. “Coal-fired power still provides around 65 per cent of Australia’s electricity and remains the most reliable form of power generation. Related: Call to end coal renewed as world leaders address UN climate report “Australia has shown that emissions reductions are possible alongside maintaining our critically important resources sector. “Emissions have fallen by well over 20 per cent since 2005, above countries like the US, Canada and New Zealand and at the same time our resources exports have grown from $79 billion in 2005 to around $310 billion today. Mr Pitt reiterated the prime minister’s position that technology held the key to future emissions reductions, including carbon capture and storage which can contribute to a reduction in coal-fired power station emissions by 90 per cent or more according to a 2020 International Energy Agency report. “The hard-working men and women of the Australian coal industry can be assured they have the long-term support of this Government.”

A commitment to continued coal mining

Industry Queensland

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