Mike Bairds former chief of staff, Stephen Galilee (now head of NSW Minerals Council) hopes that the price of coal will save his industry ... Minerals Council hopes falling dollar will help Hunter coal mines recover from downturn The New South Wales Minerals Council believes the drop in the Australian dollars value will help the Hunter Valleys coal industry maintain momentum. New Coal Services figures show, despite an industry downturn closing several mines in the region and leading to several thousand job losses, the states coal exports rose eight per cent. Nearly 170 million tonnes were shipped from New South Wales last financial year, with Japan the states leading customer, followed by China whose demand surged 22 per cent. Minerals Council CEO Stephen Gallilee said the improved competitiveness of the Australian dollar will help the coal industry get through its short-term challenges. The recent fall in the value of the Australian dollar has been good news for all of our export industries, he said. In particular, its been good news for the mining industry and the state economy. Coal is our states most valuable export commodity, and therefore an assistance that can be provided to the coal industry helps the overall New South Wales and Hunter economy as well. The Minerals Council expects an Australian trade visit to India will help Hunter Valley coal exporters in the longer term. Trade and Investment minister Andrew Robb, Premier Mike Baird and Rio Tinto chief Sam Walsh were members of the delegation to visit the sub-continent last week. Mr Gallilee said Hunter Valley producers could have much to gain from the emerging market of India. Theyre not a big market for our thermal coal, yet theyre a very important potential market for the future, given the increase in their economy and the increase in demand for electricity that is generating, he said. Its important that we maximise our opportunities into India, and it was good to see the Premier visiting India last week, doing just that. abc.net.au/news/2015-01-20/minerals-council-hopes-falling-dollar-will-help-hunter-coal-min/6026670
Posted on: Mon, 19 Jan 2015 21:30:20 +0000
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