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FROM OUR CORRESPONDENTAUSTRALASIA


force a decision or to mount a legal challenge. The project’s first stage aims to produce


10 million tonnes a year to supply the Indian market, with future development being available to serve other customers in developing countries. Economic analysts have also given


cautious support to the overall future of the Australian coal industry. Australia and New Zealand Banking


Group (ANZ) senior commodities analyst, Daniel Hynes, said there has been a steady decline in the price received by Australian thermal coal producers for several months. He added that there is nothing alarming about recent developments. His view is that any restrictions imposed


Politically, it remains unclear as to


whether Adani will get federal government backing. Opposition leader Bill Shorten has not denied telling a prominent environmentalist that as prime minister he would revoke the Adani coal mine licence, should it be granted under the current government. Shorten has admitted he is “not a fan” of


the project while suggesting that he does not think it will go ahead. That is not stopping Adani from


progressing with its plans. Dow said the company is continuing to work on management plans with the Queensland government, which will determine how the Carmichael mine will be run, particularly on environmental issues such as the effect on local wildlife and concerns related to underground water. Although Adani is frustrated about how


long the Queensland state government is taking to work through the plans, Dow said the company still has avenues available to


by Chinese authorities are simply in place to support Chinese coal miners and the price they receive, with authorities adjusting policy whenever domestic prices move outside an approved band. If the coal price is too high and hurting


Chinese power generators, efforts will be made to push prices down. Similarly, if local coal miners are suffering under the weight of cheap imports, restrictions such as quotas will be imposed on imported coal.


No choice Credit Suisse, meanwhile, noted that steelmakers in China have no choice but to deal with Customs delays for Australian coal. “They need the coal as China is short of the premium grades,” it explained. Indeed, Chinese involvement in the


Australian coal industry is becoming increasingly direct. Chinese state-owned China Energy Engineering Group (CEEC), which has built power plants in Pakistan, India and Indonesia, is backing a project to build a new coal-fired power plant in New South Wales. Plans to build 2,000 MW of new coal-fired


power generation in the Hunter Valley, north of Sydney, have created a political row with a


Preliminary road works being undertaken ahead of starting construction at Adani’s Carmichael mine.


Chinese state-owned CEEC, which has built power plants in Pakistan, India and Indonesia, is backing a project to build a new coal-fired power plant in New South Wales.


backbencher for the ruling coalition government calling them “fantastic” and urging Prime Minister Scott Morrison to pour taxpayer subsidies into it. The Australian Greens said it will deploy a “veritable army” to stop the plant from being built. State planning procedures mean any


proposal could take months before being approved or rejected. Elsewhere in the Australian energy


market, the recent Australasian Oil and Gas conference was told that Western Australia is poised to benefit from the global mega trends of de-carbonising and rising consumer demand for ethical products. Deloitte Access Economics partner Matt


Judkins said BP’s prediction that 85 percent of new energy supplies will come from gas and renewables is good news for Western Australia.“Gas is undoubtedly the transition fuel for a de-carbonising world,” he stated. While the transition will take decades,


Judkins believes that the oil and gas sector needs to position itself for the future. “The great news is the plan is being laid before us so we can respond.” Carnarvon Petroleum is also positive for


the future, with company ceo Adrian Cook telling investors that the company has AUD98 million (USD69.7 million) in cash to vigorously pursue its development strategy. One negative in Australia’s trading


picture is the proposed biosecurity levy, due to be implemented this July. A total of 14 transport and logistics


industry associations have declared it to be significantly flawed. In a collaborative statement, the associations urged the government to remove the biosecurity levy from the 2019 budget, saying it will damage the competitiveness of the freight supply chain and key export industries. The freight industry believes that there is


confusion as to why a new biosecurity tax is required over and above the Australian government’s current biosecurity charges for oceanfreight, and there is also lack of clarity on how the government will collect the tax. The industry, however, welcomes the


government’s recognition of the need for a steering committee to better inform on how a levy scheme could be designed. HLPFI


www.heavyliftpfi.com May/June 2019 35


Adani Mining Pty Limited


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