Coal Hits Three-Year High
Coal futures climbed above $150 per ton, reaching their highest level since September 2023 after Australia’s High Court rejected an appeal by Mach Energy Australia over the planned expansion of its coal mine in NSW. The court found that planning authorities had failed to adequately account for emissions generated by customers who burn the mine’s ...
Coal prices surged to a three-year high, hitting $150 per ton, marking the highest level since September 2023. This increase occurred following Australia's High Court ruling against Mach Energy Australia's appeal on the planned expansion of its coal mine in New South Wales. The court's decision highlighted that planning authorities had not sufficiently considered the emissions produced by customers burning the mine's coal.
Tania Constable, chief executive of the Minerals Council of Australia, expressed concern that the ruling could significantly impact investment and send a negative signal to trading and investment partners regarding Australia's sovereign risk. This could potentially pressure future supply. Meanwhile, global coal demand is anticipated to reach a record high this year due to disruptions in gas supplies caused by the Iran war.
The International Energy Agency (IEA) stated in its Coal Mid-Year Update 2026 that higher liquefied natural gas (LNG) prices resulting from the Strait of Hormuz blockade are prompting major economies like China, India, Japan, South Korea, and parts of Europe to increase their reliance on coal-fired power generation.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
