Australia to Become Largest Coal Exporter

Australian mining reported that Australia is slated to become the world’s largest coal exporter.

As quoted in the market news,

In the latest Resources and Energy Quarterly, published by the Department of Industry, it highlights Australia’s continuing dominance of the sector, with the country predicted to move back into the top position by 2017.

Wood Mackenzie stated:

Modest productivity gains, the rapid fall in oil prices and currency devaluation in Australia and Russia will help lower costs. Therefore, Australian mines stand in a relatively strong position compared with higher cost suppliers – particularly those in the U.S.

Click here for the full Australian Mining report