Australian coal miners including Glencore must set aside thousands of tonnes of coal for use by domestic power generators for a period of 15 months under the New South Wales state government's latest coal reservation policy.
The edge of Glencore's Mount Owen coal mine and adjacent rehabilitated land are pictured in Ravensworth, Australia, June 21, 2022. REUTERS/Loren Elliott/File Photomust set aside thousands of tonnes of coal for use by domestic power generators for a period of 15 months under the New South Wales state government's latest coal reservation policy.
Coal sold under the policy will be capped at $125 a tonne - well below spot market rates and the price that some Australian miners have received for exported coal in the past year. While the directive was initially aimed at coal minera that already supplied local power plants, NSW Treasurer Matt Kean in January the state would expand the scheme to include coal miners that do not currently sell into the domestic market. The state is facing an election in late March.
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