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Coal Continues To Take It On The Chin As Investors Flee

Coal Continues To Take It On The Chin As Investors Flee
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Bluewaters coal-fired power station written off as worthless as renewables rise

Bluewaters coal-fired power station written off as worthless as renewables rise By Daniel Mercer WedWednesday 16 updated ThuThursday 17 The value of Australia s newest power station, south of Perth, has been written off. ( Share Print text only Cancel The owners of Australia s newest coal-fired power station have written down the value of the asset to zero, wiping out a $1.2 billion investment in the face of an onslaught of renewable energy. Key points: Its Japanese owners have written it off as worthless The move is being pinned on the rise of renewable energy In what a financial market analyst said was a classic example of changes predicted in the energy industry, Japanese conglomerate Sumitomo has written off its $250 million equity stake in the Bluewaters power plant in Western Australia s south-west.

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China has banned Australian coal in a huge escalation of the trade war, state media reports

China has banned Australian coal in a huge escalation of the trade war, state media reports Business Insider India 15-12-2020 Business Insider © (Alex Ellinghausen, SMH) China has banned Australian coal in a huge escalation of the trade war, state media reports China has lifted restrictions on coal from all nations except Australia in the latest attack on the country’s exports. The Global Times, a state media outlet, quoted an economic advisor who said that “the relationship between China and Australia has been deteriorating and Australia is gradually losing the Chinese market”. Trade Minister Simon Birmingham revealed the government is seeking clarification over the reports, telling media “I urge Chinese authorities to immediately rule out these reports of what, if accurate, would appear to be the use of discriminatory practices against Australian coal”.

South koreaAustralian capital territoryJack derwinSimon birminghamWang yongzhongInstitute of energy economyChinese academy of social sciencesIndustry researchFitch solutions country riskGlobal timesMinister simon birminghamBusiness insider australiaEnergy economyChinese academySocial sciencesதெற்கு கொரியா

China bans Australian coal imports - report

China bans Australian coal imports - report 15 Dec, 2020 04:38 AM 5 minutes to read Australian coal exports to China were worth A$14 billion ($14.8b) in 2019. Photo / 123RF news.com.au By: Jade Gailberger China has black-listed Australian coal, according to state-owned media, in a crushing new blow in the worsening trade war. The Morrison Government is now urging Chinese authorities to immediately rule out the coal import ban. Chinese state-owned media reported on Sunday Australia had been shut out of a new coal policy that gave power plants approval to import coal without customs restrictions from every country but ours. Read More

United statesRepublic ofAustralian capital territoryScott morrisonSimon birminghamBill shortenEd husicUncle samWang yongzhongInstitute of energy economyChinese academy of social sciencesNational development reformWorld trade organisationMorrison governmentSunday australiaGlobal times

China Is Thinking About Blocking Aussie Coal & Here s Why It s A Big Deal

Published December 15, 2020 To sign up for our daily newsletter filled with the latest news, goss and other stuff you should care about, head HERE. For a running feed of all our stories, follow us on Twitter HERE. Or, bookmark the PEDESTRIAN.TV homepage to visit whenever you need a news fix. Ah, coal. It’s the little black rock that Australia loves to kiss. Now, China appears to have shut the door on Australia’s coal export industry, potentially separating us from $14 billion in annual exports. Senior Australian Government officials are in damage control. Speculation remains over whether China has actually made the call. It’s all a bit of a clusterfuck, but here’s why you should keep an eye on the situation.

Scott morrisonSimon birminghamWang yongzhongInstitute of energy economyChinese academy of social sciencesWorld trade organisationAustralian governmentGlobal timesEnergy economyChinese academySocial sciencesReserve bankAustralian prime minister scott morrisonLukas cochMinister simon birminghamChinese government