Data from consultancy GlobalData shows that，Australian coal production is expected to grow by 2.8% in 2024, reaching an estimated 550 million tons.

This growth will be driven primarily by power coal, which accounts for more than 60% of Australia's total coal production, with metallurgical coal used in steelmaking accounting for the remainder.

Key mines driving production growth in 2024 include Bengalla, Callide, Ironbark No 1, Maules Creek, Moolarben, Olive Downs Complex and Wilkie Creek.

Total production from these mines is expected to increase from 41.1 million tons in 2023 to 54.7 million tons in 2024.

The Ironbark 1 and Oliver Downs complexes began operations in late 2023 and April 2024, respectively, while the Wilkie Creek mine resumed production in early 2023, after having been undergoing maintenance since 2014.

Coal production, on the other hand, is expected to decline significantly beginning in 2027 due to the planned closure of 24 coal mines, including Clermont, which is scheduled to close in 2027, Yallourn and Springvale in 2028, and Oaky Creek in 2029.

The mine closures will result in reduced production, and in 2023 these mines produced a total of 53.8 million tons of coal. The closures also reflect Australia's gradual shift away from coal as part of its environmental policies aimed at reducing its dependence on fossil fuels.

Australian coal companies are facing cost inflationary pressures, including rising labor, fuel and distribution costs. Rising coal royalties and costs associated with emissions management are further exacerbating financial pressures on coal companies.

Article Source：sxcoal.com