The Australia Institute has released new research showing that the development of Adani and other Galilee basin mines would reduce NSW coal royalties by over $10 billion to 2035.
[Full report in PDF below]
The Institute’s calculations are based on analysis by well-known coal analysts Wood Mackenzie, commissioned by the Port of Newcastle, the world’s largest coal port. Wood Mackenzie estimate the Galilee Basin could reduce coal prices by 25% and cut NSW coal exports by 80 million tonnes per year.
“It’s basic economics that a large new subsidised coal supply will push down prices and push unsubsidised mines out of production,” said report author Rod Campbell.