Australia's coking coal statistics make for good reading
AUSTRALIA is the largest global exporter of metallurgical coal, bringing in billions of dollars into the economy.
According to the Department of Natural Resources and Mines, Queensland has about 12 billion tonnes of proved and probable coal reserves (most economic) and over 33 billion tonnes of measured and indicated resources.
Metallurgical coal accounts for about 45% of the reserves.
A Queensland Resources Council spokesman said Queensland coal was exported to at least 37 different countries last year and in the last year, 172.2 million tonnes of coking coal was exported, worth $24.7b.
Over the past year, coking coal had risen from $190 a tonne to $244 a tonne.
In 2017, Resources and Energy Quarterly forecast Australia's metallurgical coal production in 2017-18 would increase by three per cent to 196 million tonnes.
In 2018-19, Australia's production was forecast to increase by 1.4 per cent to 199 million tonnes.
Citibank revised their medium to long-term coking coal price forecasts in February upwards by $10 a tonne per annum to $138 a tonne for 2019 and $130 a tonne for 2020.
Global export demand for metallurgical coal was expected to increase at a steady rate of 2.1% per year until 2030.