Beijing banned the import of Australian coal in October last year; in a move largely seen as a retaliatory measure related to Canberra’s call for an independent investigation into the origins of COVID-19. The sanctions drew concerns in Australia about economic suffering, but recent data released by Glencore, the country’s largest coal producer, shows how Beijing’s ban failed as Australian coal exports found markets elsewhere. Glencore exported 15.5 million tons of thermal coal in the third quarter of this year, a year-over-year increase of 15 percent, according to the company’s Q3 report. As one of the world’s leading mining giants, Glencore operates a total of 17 coal mines in New South Wales and Queensland. Its Q3 thermal coal export of 15.5 million tons not only exceeded the 2020 Q3 volume of 13.5 million tons but also reached the highest level since the fourth quarter of 2019. Glencore also exported 2.5 …
Australian Coal Mining Giant Benefits from Alternative Markets After China Sanctions
December 2, 2021
admin
0 Comment