The Australian coal industry is bracing for another hit to Australian exports to China after state-owned energy providers and steel mills reportedly received verbal notice to stop importing Australian coal.
Coal power plants located 200 kilometres north-east of Beijing. China already burns half the world's coal.Shares in coal miners tumbled on Monday, pulling down Whitehaven by more than 6 per cent while the energy sector fell by 1.3 per cent. The industry is already facing a $17 billion export collapse as utilities shift to gas for base load power and the coronavirus curbs economic growth.
"If there are discriminative treatment of countries among largest coal exports to China such as Mongolia, Indonesia, and Australia, the Australian coal will certainly be under tighter control," they said.
ErykBagshaw micksfoley 👏👏👏👏👏 Maybe Chinese care about Oz environment ? 😂
ErykBagshaw micksfoley Australian government needs to wake up. China will also drop our gas when belt and road is complete.. so why is scomo going with a gas led recovery?
ErykBagshaw micksfoley Why are Australians bitching about this? Isn't decoupling from China what they wanted? The Chinese just did them a favour, no? When you keep biting the hand that feed you, expect to be slapped sooner or later.
ErykBagshaw micksfoley Australian and China are greet frinds but they must sit down ;;;;;;;
ErykBagshaw micksfoley Glad you guys have a “Plan B”! You’d be fucked otherwise. 😳😳😳😳😳😳😳
ErykBagshaw micksfoley It’s a harsh move of China, yet again, but there are other countries on this earth who will buy it - and won’t hold us to ransom.
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