Grim warning for state's biggest export

Perth Now

a day ago

Premier Chris Minns has warned that NSW's biggest export, black coal, is under threat as demand dries up.
Mr Minns told budget estimates that Southeast Asia nations had indicated they would reduce their purchases of black coal 'to a point where they don't buy any at all'.
'Our largest export is still black coal, and it still goes to effectively a single market,' Mr Minns said on Wednesday, adding it accounted for much of the $40bn in exports.
'Now, those countries will continue to buy it, and there's a future for those jobs. I accept that.
'But, they've all indicated to us, over a different time horizons, in different ways, they'll be buying less of it in the future to the point where they don't buy any of it at all.
'NSW is facing a situation where our single biggest export, we are being told in explicit terms, will decline in the years ahead.' Premier Chris Minns says the state can't rely on black coal forever. NewsWire/ Gaye Gerard Credit: News Corp Australia
Australian coal is predominantly exported to countries in Asia and Southeast Asia, including Japan, China, India, South Korea, and Taiwan.
A NSW government trade and investment strategy, released in May, indicated a need to diversify the state's exports, including in Southeast Asia.
This includes plans for a $100bn increase in goods and services exports by 2035.
The revelations come as Mr Minns is questioned about the conservation hunting Bill, which is before a parliamentary inquiry and seeks to expand hunting rights.
Mr Minns indicated a 'bounty' scheme, in which NSW hunters were paid for kills of invasive species, was being considered, although he said it did not 'have blanket support'.
He urged for a focus on 'export industries native to us', namely the state's agriculture sector, with combating native species being integral to that. Glencore's massive Ravensworth open cut coal mine northwest of Singleton. NewsWire / Peter Lorimer. Credit: News Corp Australia
'We want to grow our agriculture sector. It's a huge and important part of the future growth, future economic growth for the state,' Mr Minns said.
'But, that's not going to happen if both the actual product is threatened by invasive species or the perception about Australian agriculture and primary products is threatened as a result of invasive species.
'So, I just think it's all hands on deck.'
The Bill has faced pushback from nature conservation groups who say such hunting would not have a meaningful impact on feral animal populations.