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The Guardian: Once the engine of the Industrial Revolution and employer of nearly 1.2 million people, the fall of old king coal in the UK has been precipitous. Only five years ago, the fuel was generating more than 40% of the UK’s electricity, but new analysis by Imperial College London reveals coal supplied just 2% […]
Tim Buckley
India's National Thermal Power Corporation Emerges as a Transition Cornerstone
A Morgan Stanley downgrade this month of the Indian utilities industry highlights how renewable energy is becoming so cheap that thermal power, mostly coal, is no longer competitive. This is a highly significant market signal likely to be accompanied by further growth in the already impressive number of high-caliber international investors moving into India’s renewables […]
Huffington Post: Urgewald, an NGO with a long history of urging the finance industry to divest, has created an in-depth database, coalexit, that lists the top 120 companies that are most responsible for future coal plant development around the world. The database will be a powerful tool for use by climate-focused investors, banks, and insurers […]
Michael Slezak in the Guardian: As Australia mulls the building of its biggest-ever export thermal coal mine, its biggest foreign buyers look set to reduce their consumption, driving down the price of Australian coal, and the profitability of its mines. Japan, South Korea and Taiwan together buy about 30% of the world’s exported thermal coal, including 70% […]
Rod McGuirk for the Associated Press: A state government said on Wednesday it would buy back most of a Chinese mining company’s coal exploration license for 262 million Australian dollars ($201 million) to help protect some of Australia’s most fertile farmland. The New South Wales state government said it would buy back 51.4 percent of […]
Simon Nicholas
New Coal Mine Makes Even Less Sense than It Did Last Year; Hume Will Find it Hard to Compete with Higher-Quality Coking Coal
Despite the significant increase in coking coal prices that began in late 2016, the proposed Hume Coal project in the Southern Highlands of New South Wales seems no more likely to proceed now than it did when IEEFA reviewed it ten months ago. Hume Coal, a subsidiary of South Korea’s largest steel maker POSCO, has […]
Wall Street Journal: Imagine you live in a village where one very large and powerful family both farms and eats half of the grain, and has massive tracts of unused, fertile land. Is the grain business one you would want to get into? This is roughly the situation the world’s coal producers find themselves in […]
Washington Times: Cooperating in the fight against climate change had been a central part of the U.S.-India relationship under President Barack Obama, but the issue was relegated to the back burner Monday during President Trump’s meeting with Indian Prime Minister Narendra Modi. As part of its commitment under the landmark international deal, India promised to […]
Associated Press: The world’s biggest coal users – China, the United States and India – have boosted coal mining in 2017, in an abrupt departure from last year’s record global decline for the heavily polluting fuel and a setback to efforts to rein in climate change emissions. Mining data reviewed by The Associated Press show […]
Global Trade Review: Asia will reach peak coal in 2024, with a rapid increase in renewable energy investment set to meet the continent’s growing power needs. By 2040, there will be US$10.2tn invested in new power generation capacity worldwide, of which US$4.8tn will be in Asia, data from the New Energy Outlook 2017 report from […]
IEEFA Australia: Hume Coal Proposal Will Be Left Behind as Energy Markets Move On
New Coal Mine Makes Even Less Sense than It Did Last Year; Hume Will Find it Hard to Compete with Higher-Quality Coking CoalDespite the significant increase in coking coal prices that began in late 2016, the proposed Hume Coal project in the Southern Highlands of New South Wales seems no more likely to proceed now than it did when IEEFA reviewed it ten months ago. Hume Coal, a subsidiary of South Korea’s largest steel maker POSCO, has […]