London Commodity Brokers Ltd.
    • Home
    • About Us
    • Commodity News
    • Price Information
    Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
    To find out more, including how to control cookies, see here: Cookie Policy
    June 23, 2021

    Thermal coal fires NSW budget

    Coal, Commodities Australia, New South Wales

    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 funding for the NSW Generations Fund.

    Mining royalties represent a significant proportion of revenue for the fund, which is expected to grow to $90 billion by 2031 and has delivered investment returns of 8.6% since its inception in late 2018.

    NSW Minerals Council CEO Stephen Galilee said mining royalties were helping underpin the NSW government’s fiscal strategy and infrastructure program through provision of strong ongoing revenues into the NSW Generations Fund.

    “Once again mining royalties are providing an economic boost to the state budget, with royalty revenues now embedded as a critical component of the government’s fiscal strategy,” he said…Full Story

    China Mulls Price Caps on Coal in Campaign to Tame Inflation China’s Steps Turn Iron Into World’s Most Volatile Commodity

    Related Posts

    Coal, Commodities

    Coal shortage now at alarming levels, say aluminium producers

    With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Aluminium Association of India (AAI) has urged the union coal ministry for immediate resumption of adequate coal rakes for the highly power-intensive Aluminium industry. In its representation to the Ministry, the AAI has lauded […]

    Coal, Commodities, Power Markets

    Coal Shortage Crisis: 15 Of 135 Power Plants Have Zero Days Of Stock

    Concerns on coal have also come from political quarters, as Power Minister RK Singh describes the situation as “touch and go” By – Mohammed Kudrati | Boom Live India is running perilously low on coal for thermal power generation, shows data from the Central Electricity Authority. According to their daily release on coal stocks through […]

    Coal, Commodities, Power Markets

    China Energy Crunch Triggers Alarm, Pleas for More Coal

    By David Stanway | Reuters As a severe power crunch roils China’s northeastern industrial heartland, senior officials face mounting pressure from alarmed citizens to ramp up coal imports thick and fast in order to keep lights on, factories open and even water supplies flowing. With electricity shortages sparked by scant coal supply crippling large sections of industry, […]

    London Commodity Brokers Ltd.
    © London Commodity Brokers Ltd.