Australasian Mining Review
Issue link: http://ebook.aprs.com.au/i/37922
13 Thus for every $1 of profi t earned in Australian the coal industry puts in excess of $1 back into Australia. In 2008-09 the industry did this by committing $10.4 billion in net capital investment, paying $12.9 billion in taxes and royalties and returning some $7 billion in dividends to Australian shareholders. 3. Major Export Markets Most of Australia’s thermal coal exports go to North Asia. Last year, over 80% of thermal exports were delivered to Japan, South Korea and Taiwan. Japan is Australia’s most important customer for thermal coal, accounting for 45% of our thermal exports or over 60 million tonnes of thermal coal. Japan is also the major destination for Australian metallurgical coal exports. Japan accounts for 29% of these exports, having imported 40 million tonnes of Australian metallurgical coal in 2009. However, the split between exports is much more even for thermal coal, with China, India, South Korea and Europe all being major destinations. 4. Investment Coal Mining and Infrastructure Projects In the 12 months to October 2010, coal projects valued at $2.8 billion were completed together with coal infrastructure projects valued at around $1.9 billion. As at 31 October 2010, “advanced” coal mine and coal infrastructure projects, those committed or under construction, totalled $8.3 billion. Black Coal Mining and Infrastructure Projects Coal mining Coal port and rail infrastructure Coal mining & infrastructure Completed (a) Advanced (b) No. $m 7 No. $m 2,800 5 1,900 12 4,700 12 5,208 7 3,092 19 8,300 Notes: (a) In the 12 months ending 31 October 2010. (b) Projects ‘committed’ or ‘under construction’ as at 31 October 2010. Source: ABARE, Mineral and Energy Major Development Projects, April 2010 and October 2010 By Kath Elliott of the Australian Coal Association www.australiancoal.com.au issue 2.2 5. Electricity generation Coal plays a vital role in our energy security by providing a secure, affordable and uninterrupted supply of energy. Black coal used in electricity generation is also a major source of Australia’s greenhouse gas emissions contributing about 21% of total emissions (with brown coal or lignite contributing a further 11%). This is why the black coal industry is working with government in investing in carbon capture and storage technologies. These technologies can reduce emissions from the utilisation of coal while assisting us to meet our energy security objectives. They can also be employed to reduce emissions from industrial processes such as steel, cement and alumina production and from electricity generation from other fuels (e.g. gas, lignite and diesel).