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Australia’s coal production is expected to grow by 2.8% in 2024 but decline by 2030

Pabio November 7, 2024

Australian coal production is expected to grow by 2.8% in 2024, to around 550 million tonnes (Mt). This growth is largely driven by thermal coal, which accounts for more than 60% of the country’s total coal production, with the remainder made up of metallurgical coal used in steelmaking.

In 2024, the main mines driving this growth are Bengalla, Callide, Ironbark No 1, Maules Creek, Moolarben, Olive Downs Complex and Wilkie Creek. Their combined production is expected to increase from 41.1 Mt in 2023 to 54.7 Mt in 2024.

The Ironbark No1 and Olive Downs Complex mines began operations in late 2023 and April 2024 respectively, while the Wilkie Creek mine resumed production in early 2023 after being on care and maintenance since 2014.

Coal production is then expected to decline sharply from 2027 due to the planned closure of 24 mines including Clermont in 2027, Yallourn and Springvale in 2028 and Oaky Creek in 2029. These closures will reduce the production of mines which collectively produced 53.8 Mt of coal in 2027. 2023. The closures reflect Australia’s continued shift away from coal as part of its environmental policies to reduce reliance on fossil fuels. fuels.

Australian coal miners face inflationary pressures, including higher labor, fuel and distribution costs. Coal royalties and growing emissions management expenses further add to their financial challenges.

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