[VIDEO] Minerals Council of Australia launches ‘coal is amazing’ campaign
The campaign, Little Black Rock, hails the numerous benefits of the coal mining industry, such as its contribution to employment ($6 billion in wages each year), national income (worth $40 billion to Australia in exports annually) and its role in providing cheap electricity (71 percent of electricity in Australia comes from coal).
According to MCA’s coal director Greg Evans, the campaign is built on facts and meant to keep people informed.
"Coal is an important Australian industry. It is our second largest export, a major employer in NSW, Queensland and Victoria and provides 71 per cent of the nation's electricity," said Evans.
"The industry considers it critical that the community is kept informed about its role, its prospects for the future and the significant advancements it is making in reducing emissions."
The timing of the campaign comes less than three months before world leaders converge in Paris for the United Nations Framework Convention on Climate Change.
“This has been in train for some time,” said a spokesman for the Minerals Council. “It’s fair to say there are a few misconceptions out there the industry wants to tackle. This is aimed at the general public but we obviously want the politicians to take notice of it.”
The Minerals Council’s ad campaign also comes at a time when many coal miners, including Rio Tinto and Anglo American, continue to battle approvals for new mines or extensions to existi9ng mines in the country.
The MCA campaign goes on to say that newer coal technologies have already cut emissions by 40 percent and “research continues into making coal cleaner and more sustainable for generations to come.”
The advertisement campaign is currently running in television, newspaper and radio.
Lynas revenue jumps 21% as rare earth prices jump
Australian miner Lynas Rare Earths posted a 20.6% rise in revenue in the March quarter as selling prices for the key metals it mines hit record highs amid strong demand, particularly for neodymium and praseodymium (NdPr).
NdPr is used in magnets for electric vehicles and windfarms, in consumer goods like smartphones, and in military equipment such as jet engines and missile guidance systems.
The company said it plans to maintain production at 75% however, as it seeks to continue to meet covid-19 safety protocols and grapples with shipping difficulties. Shares in Lynas fell 6.1% after the results.
“They have faced a few logistics issues, and it would be good to know when they are going to start lifting their utilisation rates a bit,” said portfolio manager Andy Forster of Argo Investments in Sydney.
“Pricing has been pretty strong although it may have peeled back a bit recently. I still think the medium, long-term outlook is pretty good for their suite of products.”
Lynas post ed revenue of A$110mn ($85.37mn) for the three months to the end of March, up from A$91.2mn a year earlier as prices soared.
It said its full product range garnered average selling prices of A$35.5/kg during the March quarter, up from $23.7 in the first half of the financial year. “While the persistence of the covid crisis, especially in Europe, calls for careful forecasts for our business ahead, we see the rare earth market recovering very quickly,” said Lynas, the world’s largest rare earths producer outside China.
Freight demand has spiked during the pandemic, while the blockage of the Suez Canal in March delayed a shipment to April.
Lynas’ output of 4,463 tonnes of rare earth oxide (REO) during the quarter was marginally lower than 4,465 tonnes from a year earlier.