It’s not over for coal as global prices surge on hot demand

, , ,

By Dan Murtaugh and Vanessa Dezem | Sydney Morning Herald

Coal is seeing a dramatic spike in demand just as several major miners are hit with production problems, sparking a surge in prices from China to Europe.

Prices for the dirtiest fossil fuel are soaring as sweltering temperatures in North Asia increase air conditioning needs, adding to already strong demand due to the industrial recovery from the pandemic. Mine safety issues in China, heavy rainfall in Indonesia and disruptions in Colombia are constraining output.

The price spike comes amid an existential crisis for coal, with climate policies making it increasingly difficult to invest in new projects. The squeeze might not change that, but it’s providing miners with a windfall while it lasts…Full Story

Related Posts

,

Thermal coal fires NSW budget

By Lou Caruana | Mining Monthly HIGHER thermal coal prices have prompted the New South Wales government to increase its budget forecast for money raised from mining royalties by $50 million to $1.6 billion in 2021-22. That means mining royalties are forecast to raise nearly $6.4 billion over the next four years, delivering significant ongoing […]