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Australian coal exports face ‘perfect storm’ as China restrictions hit – Sydney Morning Herald

Australian coal exports face a “GFC-style threat” to their viability one of the country’s top auditors will claim.

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Chinese imports of Australian coking coal fell by more than 20 per cent in October compared to the same time last year, Commonwealth Bank analysis shows. At the same time as local state-backed miners ramp up production and China increases its imports from Canada, Russia and Mongolia. Australia exported up to $14 billion worth of coking and thermal coal to China in 2018-19.
The comments from Mr Preston come ahead of a McGrathNicol event on Tuesday with former prime minister Malcolm Turnbull, economist…

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