Coal Companies Develop More Than $29 Billion in Coal Mining Projects in Australia

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Researched by Industrial Info Resources (Sugar Land, Texas)--Despite plunging commodity prices and a tightening credit market amid the global financial crisis, some sectors in the Metals & Minerals Industry, such as gold and coal, remain strong. During a time of plummeting stock prices, people are continuing to invest in gold and in coal mines. Worldwide, coal accounts for more than 70% of the fuel used for energy production.

Australian coal producers are responding to an increase in demand for coal with huge investments in mines, and rail and port infrastructure, especially since China's demand is projected to hit 3 billion metric tons by 2010, said Liu Caiying, Chairman of the China Coal Transportation & Sale Society. Australian coal producers are investing heavily to make certain that the demand is met. Australia's political stability, proximity to China and governmental commitment to increase its resources base, as well as the international competitiveness it has, positions the country to maintain a top-tier status worldwide.

Australia's long-term addiction to coal export dollars is at the forefront of the country's efforts to improve and expand infrastructure to accommodate a growing coal industry. Its commitment to investing in the coal mining sector is instrumental in the strong fundamentals of the country's economy in the face of the global financial crisis. Australia's mining industry will continue to grow, and the economy as a whole will remain strong across a wide range of sectors.

In addition to $29 billion worth of coal mining projects that Industrial Info is tracking in Australia, the country is evaluating an additional $241 billion in associated coal-related infrastructure, such rail roads, roads, bridges, schools, hospitals and other social facilities. These projects are in various stages of development and range from greenfield to brownfield expansions that are expected come online by 2012, raising Australia's coal capacity by more than 100 million tons per year. More than 50% will be exported to Asian markets.

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Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services.