While numbers were down from an enthusiastic reception at last year’s conference during a time of record-high coal prices, the audience was reminded that thermal coal was in the range of $US30-39 per tonne back in 2001 and coal producers were still in a profit-making line of business.

Taking in the speakers’ views from the one-day event, especially a well-received presentation from Wood Mackenzie senior analyst Steve Halton, Informa conference producer Dianna Lauzi told International Longwall News that producers now had to look at their production costs, which were less of a concern last year with the high coal prices.

She said companies should look at opportunities during the current downturn and added that a lot of the attendees at the conference were looking to the future and how to make the best of the situation.

Lauzi noted the presentation from Newcastle Coal Infrastructure Group received a lot of interest, given the importance of the coal supply chain to the industry.

Spot Newcastle thermal coal has been threatening to sink below the $US60/t level, as the globalCOAL NEWC Index hit $US62.10/t in the latest weekly data, well below the unprecedented highs of $US125/t in thermal coal export contracts last year.

ILN will cover the presentations made from the conference in more detail in future bulletins.