Tuesday , April 25 2017
Informed Influential Indispensable | newzealandinc.com

China’s long-heralded crackdown on low-quality coal will knock Australian exports

Australian Treasurer Joe Hockey talks up his country’s potential to be the “world’s number one energy exporter” within the decade but China’s ban on the sale and import of coal with high ash or sulfur content may impact forecast returns.

The Chinese Government’s crackdown is in response to the heavy pollution in Shanghai and Beijing and social unrest in many industrialised cities,

From January 1, the National Development and Reform Commission (NDRC) says a ban will be imposed on coal with ash content of more than 40 per cent and sulfur of more than 3 per cent from being sold or imported into China. Lignite containing ash of more than 30 per cent and sulfur of more than 1.5 per cent is also prohibited.

Coal accounts for almost two-thirds of the country’s energy mix.

According to Hockey, Australia’s got “at least 400 years” of coal reserves.

http://www.theaustralian.com.au/business/mining-energy/miners-face-threat-of-coal-ban/story-e6frg9df-1227058242898

Read more: http://www.smh.com.au/business/china/china-bans-dirty-coal-to-fight-pollution-20140916-10hnm9.html#ixzz3DSTqZlmw

About Fran O'Sullivan

Fran O’Sullivan is Managing Director of NZ INC. She is a former editor of the National Business Review and a prominent columnist for the New Zealand Herald, where she writes on business, politics, and international affairs, and manages the annual high-profile Mood of the Boardroom project. Fran took up the position of Editorial Director – Business for NZME in April 2015.

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