The NSW energy minister and treasurer, Matt Kean, is aiming to introduce the new requirements for miners to set aside about 7% to 10% of their production for the local market after further consultations with the industry.
“This coal cap scheme will see NSW doing our part at the request of the Albanese government to contribute to the national solution of this national problem,” Kean said in a statement. Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup “I know those currently providing coal for the local market will appreciate that companies enjoying super profits on the back of the war in Ukraine will now do their part for the domestic market. Of course they should provide Australian production for Australian consumers.Under the federal government’s plans, agreed to by the NSW government, black coal prices for domestic use are capped at $125/tonne.
NSW Minerals Council chief executive Stephen Galilee slammed the government’s move as “a clumsy, politically-motivated market intervention designed in haste, with little or no consultation”.Our Australian afternoon update email breaks down the key national and international stories of the day and why they matterNewsletters may contain info about charities, online ads, and content funded by outside parties.