Things look like they may be really turning up for coal when politicians go public in supporting it and when coal mining companies start rehiring people.
Hogsback doesn’t think that there is anything particularly earth-shattering about the PM’s statement but for so long we have been told by climate change alarmists that Australia should immediately cure its “addiction” to “evil” coal that to have the leader of the country actually spell this out has been very newsworthy.
Speaking at the National Press Club in Canberra, Turnbull said: “We have a vested interest in showing that we can provide both lower emissions and reliable base load power with state of the art clean coal fired technology… coal does have a role in the future.
“You’d think if anyone had an interest in doing something smart with clean coal it would be us, but we don’t have one power station capable of doing it.”
NSW Minerals Council CEO Stephen Galilee gave the PM’s words his roundest endorsement.
Galilee said NSW was blessed with an abundant supply of high quality thermal coal that could be used by new technology power plants to generate electricity with up to 40% lower emissions than some existing power stations.
Minerals Council of Australia executive director of coal Greg Evans said the significant economic expansion occurring in Asia heralded a large-scale build of clean, high efficiency, low emission coal-fired generators.
The latest International Energy Agency World Energy Outlook forecasts demand for coal in Asia will grow at 0.8% per year to 2040, with Indian demand growing at 3.6% per year and across South East Asia at 4.4% per year over the same period.
“To put that in perspective, the new HELE build represents more than 32 times Australia’s current coal-fired capacity and the build includes the latest and cleanest technology,” Evans said.
While this chorus of approval by industry leaders was going on, the BHP Billiton Mitsubishi Alliance revealed it would be hiring more than 200 people at its Saraji and Peak Downs mines.
The Resource Industry Network believes BMA’s push to increase its workforce in Queensland’s Bowen Basin is great news for the Mackay region and demonstrates the company’s confidence in the future of the sector.
Queensland Resources Council statistics show that for every full-time role at a mine there are four to five support roles as a flow on.
Mackay is a major resource services hub in Queensland so the prize for local businesses is these flow on roles that come from this industry expansion, according to chairman of RIN and Mastermyne CEO Tony Caruso.
“We are excited by this decision as the increased volume will drive supply, contracting, engineering and servicing opportunities for many of our regional businesses,” he said.
“The majority of the Mackay and surrounding region workforce is engaged in the services sector, rather than filling the full time roles at the mines. Our heavy industrial and manufacturing sector will benefit from the ongoing maintenance and supply contracts that will come about thanks to BMA’s renewed confidence in the sector and decision to add extra capacity to its existing operations.”
There is nothing like a bit of good news to get the “animal spirits” going that are needed to encourage investment and get companies to take risks on mining project. Now that even our politicians are starting to talk up coal may be that process is going to start to get easier.
