WorldWide Drilling Resource

16 NOVEMBER 2019 WorldWide Drilling Resource ® Demand for Queensland’s Coal Soars Adapted from Information by the Queensland Resources Council and the Queensland Government According to the Queensland Resources Council (QRC) in Australia, coal remains Queensland’s biggest export, making up 40% of the state’s total exports. This high-quality coal is in great demand from Asia and the state’s economy is benefiting from key trade links with growing economies making coal the central commodity driving exports. QRC Chief Executive Ian Macfarlane said, “Queensland has an advantage over other states with its close proximity to the economies of China, India, and Japan. Every quarter we see export data repeating a common theme - the world needs our metallurgical coal to make steel needed for building modern cities, and our high-quality thermal coal is delivering tomorrow’s energy needs through high-efficiency, low-emission coal-fired power plants.” Coal supports more than 215,000 jobs in Queensland and coal exports contributed $36.3 billion to the state’s economy last year. The resources sector, including minerals, liquified natural gas, coal, and alumina, made up $68.2 billion in total, which helped Queensland post a record $84.3 billion in exports. The state recently approved a new coal mine, the Olive Downs mine near Moranbah in central Queensland, which is ex- pected to create more jobs, coal, and royalties during the mine’s 79-year life. Five hundred jobs are anticipated during con- struction and 1000 jobs once the mine is operational. The project will include coal handling and crushing facilities at the mine’s Olive Downs South and Willunga precincts, a rail link to transport coal to the Dalrymple Bay Coal Terminal, a water pipeline, and power transmission line. Construction is scheduled to begin next year. “Demand for Queensland coal is very strong. Overseas demand means we are expected to once again sell more than [220 million tons] of coal,” Macfarlane stated. MIN