Today’s opening of a new BHP Billiton Mitsubishi Alliance coking coal mine in Daunia, Queensland is a strong vote of confidence in the future of Australia’s coal sector.
It also confirms there is continuing demand for Australian coal from emerging economies like China and our more traditional markets in Japan and Korea.
The new mine in Queensland’s Bowen Basin has created 900 jobs in the construction phase and will support 450 jobs in its ongoing operations. It will generate millions of dollars in export, royalty and tax revenues for the state and Australia.
In addition to the $1.4 billion-plus invested to construct the 4.5 million tonnes per annum Daunia mine, BMA has committed more than $7.7 billion for major projects in Queensland over the past three years.
There are more than 125 coal mines in Australia generating almost $50 billion a year in exports. The coal industry directly and indirectly employs more than 180,000 people.
There are significant coal mine expansions and new coal mines like Daunia planned for Australia in the coming years. These new projects will create jobs, support local communities and generate significant tax revenue for all Australians.
In July this year, Australia set a coal export record shipping more than 26.5 million tonnes to customers worldwide, mostly in Asia. The latest world energy statistics show that coal consumption continues to increase year on year. Coal production is also increasing around the world as new competitor countries seek market share for this valuable commodity.
Coal and other minerals resources industry exports help form the bedrock of the Australian economy, adding at least $20 billion per annum to state and federal coffers in recent years.
While the coal industry faces a more demanding environment and companies are taking steps to counter rising costs – including from the world’s biggest carbon tax – coal remains a powerful force for prosperity in our economy.