LAUNCESTON, Australia, July 3 (Reuters) - Australia's exports of new energy metals are expected to rise in value above those of thermal coal, the polluting fuel that has been the mainstay of electricity generation across much of Asia.
In contrast, exports of thermal coal are expected to slide to A$38 billion in 2023-24 fiscal year, down from A$64 billion in the prior year, according to the report, released on Monday.
Australia is the world's second-biggest exporter of thermal coal behind Indonesia, and is the top exporter of coking coal, which is mainly used to make steel.
While exports of battery metals are expected to overtake those of thermal coal this fiscal year, the driver isn't increased volumes of shipments of the metals, or decreased export of coal.
The government expects the volume of thermal coal exports to actually increase in 2023-24 to 201 million metric tons, up from 178 million in 2022-23.
Persons:
Shri Navaratnam
Organizations:
Australian government's Department of Industry, Science, Resources, Newcastle, Reuters, Thomson
Locations:
LAUNCESTON, Australia, Asia, Indonesia, United States, Qatar, Ukraine