Australian government analysis warns that reliance on Indian coal imports poses ‘significant risk’

first_img FacebookTwitterLinkedInEmailPrint分享The Guardian:Thermal coal exporters face “significant risk” that demand from India will decline, a report by the Australian office of the chief economist says. It also warned of long-term uncertainties in the market considered a “great hope” by miners.The report, released on Friday, came as the resources minister, Matt Canavan, prepared to visit India to promote the Australian resources sector. He argued India has an “astonishing” appetite for Australian thermal coal that could support “three to four new Adani-sized coalmines.” But those comments appeared at odds with the conclusions of the government’s economic advisers: that while India and southeast Asia were seen by the resources industry as a “bright light” that could help sustain Australian thermal coalminers as industrialised nations pivot away from fossil fuels, the outlook in India was “finely balanced and uncertain.”“While India is one of the great hopes for thermal coal exporters, alongside southeast Asia, it also presents significant risk,” the first paragraph of the report said. “If India’s thermal coal imports decline, there could be substantial implications for seaborne markets.”The argument being pushed by advocates of the thermal coal sector, that growth in these new markets could support new mines – or a new coal basin – ignores the more dramatic shifts away from coal in developed economies, analysts said.Tim Buckley, the director of energy finance studies at the Institute for Energy Economics and Financial Analysis, said: “The hope was that India and southeast Asia might provide something of a cushion [for the thermal coal industry] on the way down. But this isn’t a gentle slide to oblivion.”Buckley said solar power in India was three times cheaper than the assumptions used in the chief economist’s report, based on outdated IEA predictions. “They’re underestimating the importance of low-cost renewable energy,” he said. “Growth of thermal coal demand in India is financially challenged by the fact renewable energy is 30% cheaper, so what bank in their right mind would finance a new coal-fired power plant?”More: Australian thermal coal exporters warned of falling demand from India Australian government analysis warns that reliance on Indian coal imports poses ‘significant risk’last_img read more

Koeman keen to get back on track

first_img Saints have won just once in five matches and head to Leicester this weekend on the back of a 2-1 loss at Sunderland – a performance Koeman called their worst of the season. “I’m not so happy about the last few weeks and we are always talking about the whole season,” the Southampton manager said. “We need a good reaction after the poor game we showed last week. “It’s a difficult opponent Leicester, full of confidence, and we have to come back to our level because it was a poor game.” Leicester, by contrast, are third in the form table after former Southampton manager Nigel Pearson led his side to five wins in six matches – a run which looks likely to keep the Foxes in the top flight. “It’s a different team to when we met Leicester at home,” Koeman said, referring to November’s 2-0 win. “They had a great run the last few weeks. They won five out of six and lost against Chelsea at home, but even that match they play well. “They have good spirit, they are aggressive and full of confidence in the system they play and they use. It’s a difficult one and that’s what I mention to the players. This may have been Southampton’s best-ever Premier League season, but Ronald Koeman is finding it hard to reflect on a successful campaign after some poor results of late. Many predicted a relegation fight after the summer talent drain, yet Saints are pushing for a place in Europe with three matches remaining. Koeman’s side have already set a new record points tally in the Premier League era and are on course for a best-ever finish, yet the way the season is petering out has dampened the mood somewhat. “Normally we play good football and have good ball possession but we did so many mistakes in our ball possession against Sunderland and you can’t live on that level.” James Ward-Prowse’s sending off at the Stadium of Light means he misses the trip to the King Power Stadium, where Fraser Forster, Jay Rodriguez and Morgan Schneiderlin will be absent through injury. Dusan Tadic is also set to miss out again with a troublesome groin complaint which may have brought the Serbian’s season to a premature end. “That’s possible,” Koeman said. “I spoke to Dusan and he was struggling a long time with a groin problem. “We said ‘okay, we have to stop now, we can’t continue like this because maybe you have in pre-season the same problem for next season’. “It’s going better but going slowly and maybe yes (it is the end of his season), maybe not. We will see.” Press Associationlast_img read more