Future Facing Commodities will be the focus of mining companies as they follow the lead of BHP ands leave coal behind.
The new buzz expression for Australian mining companies that are leaving fossil fuel assets behind to chase greater profits is: “a Sept. 8 shareholder call: “The divestment of our petroleum business and some of our smaller coal assets wasn’t for the purposes of decarbonization. This was all about shareholder value and risk.”
“Within 5 to 10 years we’ll have a substantial potash business plus more nickel and copper production, which will give us plenty of diversification,” Henry said. A recent report from the Institute for Energy Economics and Financial Analysis found that once the current high level of coal exports peaks, the decline of exports will be rapid.of domestic coal-fired power stations coupled with the pivot towards green energy by Australia’s export markets will lead to a decline in demand from Australia’s most established export destinations — Japan, South Korea, and Taiwan.
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