Strong metallurgical coal prices and rallying thermal coal markets are spurring heightened interested in Canada’s coal mines and projects, according to a recent S&P Global Platts article.
The Coal Association of Canada seeks to drive further global investment to the sector, which is already catching the eye of a number of Australian-listed companies.
The CAC is anticipating strong attendance for its annual conference in Vancouver from Sept. 12-14, which this year is focusing on attracting investment for development of Canada’s coal reserves.
“Our high-grade metallurgical and thermal coal combined with first-rate infrastructure and transportation for getting out coal to market on both the east and west coasts makes Canadian coal a cost-effective solution for a resource that is in very high demand,” CAC is quoted in the S&P Global article.
U.S. thermal coal miners are increasingly shipping out of Canada, due to limited coal export capacity at California ports and congested U.S. east coast terminals.
Westshore Terminals exported 7.2 million mt in Q1, the article states, of which 56 percent was metallurgical coal and 44 percent was thermal.
U.S. coal exports totalled 52.7 million mt in June, up 31.7 percent compared with the same period last year, according to the latest data reported in Hellenic Shipping News.
