Ivan Glasenberg is quoted in 'The Australian' online on Wednesday 23 June 2021 (will be in the paper tomorrow):
"...“Cut fossil fuels – that’s fine – but we have to make sure renewables can fill that space and we don’t have a gap. If a gap is going to be there, we’re going to have higher commodity prices,” Mr Glasenberg said.
“Thermal coal is a perfect example. The world has said we want to reduce the amount of thermal coal production, mining companies are definitely not investing in more thermal coal mines, and a lot of the mining companies are even getting rid of their thermal coal mines.”
“So you have supply being disrupted and no new supply coming in, however demand is still there. And today you have Australian coal at $US130 a tonne – that’s what happens when you cut supply and you haven’t found a solution for demand.”..."
Ivan Glasenberg is quoted in 'The Australian' online on...
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