Production and Reserves
Australia is the fourth largest producer of coal, and by proportion exported, Australia is the largest exporter of coal in the world, with most of the exports going to Japan. Total production of bituminous coal in Australia in the financial year 2010-11 was 405 million tonnes (Mt.), down from 471 Mt. in 2009-10. This drop was largely as a result of the Queensland floods of January 2011 where production declined from an expected 200 Mt. to 163 Mt.
Coal exports are Australia’s second-largest source of export income, after iron ore exports. In 2011, coal exports were worth 47 billion Australian dollars, or $USD 47.8 billion, with $USD 15.6 billion coming from exports of thermal coal for power stations.
According to the Australian Energy the economically demonstrated reserves to production ratios for bituminous coal and lignite in Australia are 111 years and 539 years respectively, however these figures do not account for growth in production. Growth of bituminous coal exports in Australia has been growing at a rate of 5% (on average of the last 20 years). If this rate of growth was maintained to extinction all current economically demonstrated black coal in the country would be depleted in under 40 years, however continued growth at that rate is unlikely to occur for such a long period, and this estimate does not reflect growth in the demonstrated resource. Explorations in the last decade has resulted in a significant increase in inferred coal resources which are now almost double the economically demonstrated resource.
Read more about this topic: Coal In Australia
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