Newcastle Herald
Thursday, 7 December 2023
In Depth

Region's mines face global 'headwinds' over the next two years, says Office of the Chief Economist forecast

By Joanne McCarthy
October 2 2019 - 4:30am
Waiting: Coal ships from around the globe wait outside the Port of Newcastle in 2007. A new Federal Government forecast says Australia's thermal coal export earnings will drop from $26 billion in 2018-19 to $18 billion by 2020-21, despite export volumes remaining roughly the same.
Waiting: Coal ships from around the globe wait outside the Port of Newcastle in 2007. A new Federal Government forecast says Australia's thermal coal export earnings will drop from $26 billion in 2018-19 to $18 billion by 2020-21, despite export volumes remaining roughly the same.

HUNTER coal mines are competing in an "oversupplied" global market that will see Australia's thermal coal export earnings slump from $26 billion in 2018-19 to a projected $18 billion by 2020-21, says a two-year forecast by the Federal Government's Office of the Chief Economist.