This will be in 'The Australian' tomorrow:(largely positive for...

This will be in 'The Australian' tomorrow:

(largely positive for thermal coal):

"Resources Minister Keith Pitt says the outlook for Australian coal producers is positive despite China announcing it will no longer fund the construction of overseas coal-fired power stations.

Mr Pitt said he expected global demand for coal to “continue to rise”, noting there were 100 gigawatts of coal-fired generators under construction in China.

“Australia will be well placed to fill that demand,” Mr Pitt said.

He added that metallurgical coal was selling at record high prices of $US362.9 a tonne.

Minerals Council of Australia chief executive Tania Constable said China’s move “ignores the significant investments made in recent years in fossil fuel power generation”.

‘These new plants have long lives and it is imperative that governments and industry step up efforts to support, develop and deploy abatement technologies like carbon capture use and storage to mitigate the emissions of these plants and new plants still in construction,” Ms Constable said.

“These technologies are developing rapidly and will be critical for global decarbonisation.

“The latest Global CCS Institute report says there are 65 commercial CCUS facilities in various stages of development globally. More of this is what’s needed both to reduce emissions and continue to allow countries a full suite of energy options.”

Independent economist Saul Eslake said he did not think Australia would be impacted by the announcement, given most of the nation’s coal exports go to Japan, India and Korea.

“I doubt that the Chinese would have been financing coal-fired power stations in Japan, Korea or Taiwan. And they probably would not have been financing them in India either,” Dr Eslake said...."