Late yesterday I had this: Financial Times: China ban on low-grade coal set to hit global miners
The FT is gated, but I quoted some of the more salient points in that linked post.
Reuters followed up with an article that is ungated, with this:
- China will ban the import and local sale of coal with high ash and sulphur content starting from 2015 in a bid to tackle air pollution, with tough requirements in major coastal cities set to hit Australian miners.
That Reuters article is worth reading … but they left this graphic out, which I think shows how hard Aussie coal exports could be hit:
Source of this is Reuters journalist Marijana Domazet
Note: In yesterday’s FT article:
- Daniel Morgan, analyst at UBS in Sydney, said many Australian exporters that did not meet the new specifications could respond by washing or blending coal. “This would require a massive sampling and compliance regime in China in order to be implemented”
And, also, from Reuters:
- “There is nothing in the information released to date to suggest that Australian coal exporters will be disadvantaged and we are confident that we can meet the proposed specifications,” Minerals Council executive director Greg Evans said in an email to Reuters.