Garnaut predicts declining coal consumption
In an article in the Australian Journal of Mining http://www.theajmonline.com.au/mining_news/news/2014/june/june-5-2014/other-news/garnaut-sees-declining-chinese-coal-consumption Economist and China watcher Ross Garnaut predicts China’s coal consumption will fall at an average annual rate of 0.7% from now to 2020, compared to growth of nearly 13% a year from 2000 to 2011. He predicts the boom times are well and truly over for Australian coal miners, and that investment in new capacity since 2011 will see little in the way of returns. Having ridden the boom in coal demand from China and India for the previous decade, Australian coal interests are now dangerously exposed to international measures to reduce emissions in advance of the climate talks in Paris at the end of 2015 – see separate news item link. CCR can advise clients on the changing winds of Geopolitics, and the best approach to reduceing risk and exposure to their business.