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said solar power in India was three times cheaper than the assumptions used in the chief economist’s report, based on outdated IEA predictions.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

Dare Offers Scholarship to Five-year Old Boxing Sensation

first_img“Sequel to the viral video of a talented baby boy boxer on the PUNCH Newspaper’s social media pages, I will be putting the baby in a boxing academy for further growth and also sponsor his education. Some financial stipends will be given for the upkeep of the lad as well,” observed the minister at the weekend.The five-year-old Ayomide is so talented that he could be a future Olympian as he would be properly groomed and monitored .Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram In line with his avowed mandate of discovering young talents and nurturing them to stardom, Youth and Sports Development Minister, Mr. Sunday Dare, has offered scholarship to five-year old boxing sensation Ayomide Adeyemo.Dare’s grassroots development agenda drive has led to the discovery of the young boxer, Shekinat, a swimmer nicknamed ‘Fish’ and the Yakubu Sisters dubbed the Nigerian version of the Williams Sisters (Serena and Venus) for their prowess on the tennis courts.Dare who refers to himself as the ‘Chief Talent Hunter’ said he was moved by a viral video of the young talented boxer .last_img read more

Valencia test for Real’s Benitez

first_imgBARCELONA, Spain (AP):Rafa BenÌtez held on to his job last year but faces another tough test of his coaching credentials tomorrow when Real Madrid visit Valencia for their first Spanish league game of 2016.BenÌtez has been the focus of criticism from disgruntled fans for Madrid’s unpredictable campaign, which has included a lopsided loss to fierce rivals Barcelona and their embarrassing disqualification from the Copa del Rey for fielding an ineligible player.Madrid travel to Mestalla Stadium after two easy victories at their own Santiago BernabÈu home that failed to win over their most sceptical supporters, some of whom jeered BenÌtez.Madrid defender Pepe has called for calm.”We have to let our coach continue to improve,” Pepe said. “If a new manager came, we’d have to adapt to new systems and that isn’t good. We should save the evaluations for the end of the season.”Madrid have struggled on the road this season, dropping points on four of eight of their outings. Their last away game ended in a 1-0 loss at Villarreal.Madrid are in third place, two points behind Barcelona and AtlÈtico Madrid. Defending champions Barcelona have played one less game than their rivals.BenÌtez’s counterpart tomorrow is also in need of a victory.Former Manchester United defender Gary Neville’s coaching debut has got off to an uninspiring start.Valencia have only beaten a third-division side in the Copa del Rey since he took over. Otherwise, the team has recorded a pair of draws and two losses, including a poor showing in a 1-0 league defeat at regional rivals Villarreal on Thursday. That loss left Valencia 10th and 11 points from the Champions League spots.”The team is united and we are trying to get a win as soon as possible,” said Valencia striker ·lvaro Negredo. “January will be a key month.”BARCELONA DERBYBarcelona make the short trip across the Catalan capital to play the first of three derbies against Espanyol today.The two clubs will also meet in the round of 16 of the Copa del Rey over the next two weeks.Barcelona will be heavily favoured to continue their record form of 2015, when Luis Enrique’s team won five titles and set a new record 180 for goals scored.The strike trio of Lionel Messi, Neymar and Luis Su·rez combined for 137 of those goals. Su·rez is leading the league this campaign with 15, followed by Neymar and Madrid’s Cristiano Ronaldo with 14 each.Espanyol’s defence is the fourth-worst in the competition with 28 goals conceded. Only the three teams in the relegation zone have conceded more.last_img read more

Busy week for Bike Club continues with mountain bike race

first_imgVancouver’s Tyson Koempffer placed second in the race with a time of 37:03 and Gary Hilderman rounding out third place at 37:42.The busy week continues for the Blizzard Bike Club, whose members will be racing in another Baldonnel time trial Thursday evening, then will participate in the Fort St. John Triathlon Sunday, June 2.For more information on the local Bike Club or any of its upcoming events, visit the Club’s official website.- Advertisement –last_img