The end of coal in Australia is “fake news”, a mining executive has told the 2018 Mines and Money Conference in Brisbane this morning.
Wearing a Friends of Fossil Fuels badge, Xcoal Energy and Resources chief executive officer Ernie Thrasher said the coal industry has potential to expand dramatically in Queensland, and presents real opportunities for investors, communities and governments.
Mr Thrasher referenced BP’s recently released annual Statistical Review of World Energy, which showed coal continues to hold its place in energy generation.
“In 1998, coal represented 38 per cent of global power generation. In 2017, it represented 38 per cent of global power generation,” Mr Thrasher said.
“There is no change despite two decades of coal consumption.”
Mr Thrasher encouraged the 400 delegates to continue to invest in the industry to advance the coking and metallurgical coal industry.
“Coal delivers great investment, builds and supports communities and is a powerful, efficient energy source that enables economic development that lifts people out of poverty,” he said.
“It’s a great time to be in the industry and we still have a lot of room to prosper.
“We should put more effort into using technology that allows us continue to use coal, not to replace it at great cost to the community.”