Energy economics group says export market for Australian coal will decline

Office of the chief economist projects market will grow by 8.7% by 2022, but Institute for Energy Economics says this is based on out of date analysis

As Australia mulls the building of its biggest-ever export thermal coal mine, its biggest foreign buyers look set to reduce their consumption, driving down the price of Australian coal, and the profitability of its mines.

Japan, South Korea and Taiwan together buy about 30% of the world's exported thermal coal, including 70% of Australia's export coal.