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Newcastle Herald
Newcastle Herald
National
Ian Kirkwood

IEEFA says record high coal prices will accelerate demise of coal industry

Coal IEEFA Japan Stephen Galilee Newcastle
Mount Pleasant mine near Muswellbrook has had its approval extended from 2026 to 2048 and its run of mine output doubled to a maximum of 21 million tonnes a year. Picture by MACH Energy

A DECLINE in Australian thermal coal exports will be accelerated by the global energy crisis, the renewables-focused Institute for Energy Economics and Financial Analysis (IEEFA) says in a new report.

Newcastle export coal has hit new highs more than $US450 ($670) a tonne, but IEEFA says "very high coal prices are a double-edged sword for the coal industry" as various countries move to cut their coal imports.

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