After a recent roundtable, the Queensland Government is ready to increase the state’s coal exportation by improving freight efficiency to supercharge regional economies and strengthen relationships with coal trading partners.
Hosted in Brisbane, the meeting brought together the coal network in hopes of driving solutions and unlocking billions in coal exportation.
Discussing infrastructure and regulatory barriers, managing port slot allocation and stockpile, as well as general weather resilience and operational matters, the government will prioritise strengthening ties with international partners such as China, India, Japan, and South Korea.
Over the past financial year, the state government reported less than 200 million tonnes of coal exported, though it has a capacity to process more than 300 million tonnes.
Minister for Natural Resources and Mines Dale Last says that the Resources Cabinet Committee is currently progressing reforms to streamline approvals, ensuring the regulatory frameworks synchronising from pit to pot.
“This is about supporting jobs in regional Queensland by delivering trade certainty for our export partners and sending a message to global investors that Queensland is open for business,” Last says.
Minister for Finance, Trade, Employment, and Training Ros Bates says the government will cooperate with private sector industry partners for the benefit of the state’s coal infrastructure, pushing to strengthen its position in resources exports.
“Queensland’s world-class coal is in high demand, but outdated bottlenecks are holding us back,” Bates says.
“This roundtable was about working toward cutting red tape, boosting throughput, and ensuring our supply chain works as hard as the Queenslanders behind it.”
Used to generate electricity and produce steel, coal is a critical commodity for Queensland’s resources industry. Populating 70% of the state’s total resources exports in 2021-22, the Queensland Treasury reported that coal had a $71.8 billion contribution to the economy.
With a 6.41% increase in value this month alone, coal is currently worth US$107 ($164.81) per tonne as of 20 June.
Write to Maddison Elliott at Mining.com.au
Images: Unsplash
