Demand for NSW coal exports continues despite pandemic

COAL continues to be New South Wales’ most valuable export commodity, worth about $16 billion in exports in 2021 as well as $1.6 billion in royalties to the NSW government, according to the NSW Minerals Council.
Demand for NSW coal exports continues despite pandemic  Demand for NSW coal exports continues despite pandemic  Demand for NSW coal exports continues despite pandemic  Demand for NSW coal exports continues despite pandemic  Demand for NSW coal exports continues despite pandemic

Coal continues to be New South Wales’ most valuable export commodity, worth about $16 billion in exports in 2021.

The NSWMC research also analysed the potential economic benefits of all major mining projects in the NSW planning system, from initial EIS submission stage to approved projects still seeking related conditional approvals before mining can begin.

It found there were 32 mining projects at various stages in the NSW planning system including rare earths, silver and cobalt.

Demand for NSW coal has remained strong despite the global pandemic, including with NSW's top three traditional markets Japan, Korea, and Taiwan, as well as important emerging markets such as India, Vietnam and the Philippines.

"This demand is expected to remain strong for at least the next two decades and we've also seen a significant surge in the coal price over recent months," the NSWMC said.

"This is also driving opportunities, with a range of NSW coal projects under assessment. Most are for extensions of existing operations, with a few new ones and a further $5.5 billion of investment opportunity for our regions, and thousands more jobs created or protected across the state."

The number of coal projects has decreased from 21 in 2020 to 19 projects in 2021 due to one project starting, the withdrawal or discontinuance of some projects, and the NSW Independent Planning Commission's refusal of the Dendrobium project.

NSW Minerals Council CEO Stephen Galilee said as NSW continued to be gripped by the effects of COVID-19, there had never been a more critical time to maximise the opportunities this pipeline of job-generating projects represented.

"The NSW mining industry stands ready to strengthen the state economy in the short term and for decades to come, delivering billions in investment and supporting thousands of jobs," he said.

"Overall, these 32 project proposals demonstrate how the NSW mining sector can deliver billions in investment, thousands of jobs, and the economic growth needed to help rebuild our state economy in the years ahead, and with the right policies in place to support mining we will do so."