Australia to add 527 mn t/year coal capacity amid firm prices

Rising thermal and metallurgical coal prices post-COVID has prompted major producer Australia to add another 527 mn t/year coal mining capacity, as per reports. The majority of the projects are in thermal coal and all, except for Adani’s 10mn t/year Carmichael project, are brownfield operations in New South Wales. The country has 26.2 mn t per/year new coal mining capacity either committed for construction or under construction, with a further 399 mn t/year of proven feasible reserves, according to the Australian government’s commodity forecaster.