Japan’s environment minister has announced he will “in principle” oppose any new plans to build or expand coal-fired power stations, as further signs emerge of a dramatic energy pivot by Australia’s top export market for thermal coal.
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| Japan’s environment minister has announced he will ‘in principle’ oppose any new plans to build or expand coal-fired power stations. |
Guardian Australia reported in March that Japan had cancelled a large percentage of planned investments in coal-fired power, while Japanese investment vehicles were ditching coal projects and instead seeking to back large-scale renewable projects across Asia.
Market analysts expect the price of thermal coal will remain dictated by China, whose recent restrictions on Australian exports have already tempered near-record prices, and would likely continue to reduce its value.
A faster-than-anticipated transition by the Japanese energy sector, which buys 39% of Australian-mined thermal coal, would affect future volumes and the viability of some new mines.
Read the story from The Guardian by Ben Smee - “Japan to oppose new or expanded coal-fired power plants in blow to Australian exports.”
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