In Australia’s high-wage economy, cheap power was the only competitive advantage our manufacturers, miners and energy-intensive industries enjoyed.
The idea was simple.
To compete with industry in developing nations that have access to dirt cheap labour, Australia needed substantially lower power prices on top of higher productivity.
Unfortunately, we’re squandering our great advantage.
Arising from the blindside cash grab being perpetrated by the Queensland Government against the coal industry in Queensland, there may be some potential concessions for producers on their insurance programs.
It’s a big call, but we’re sure it’s true.
The outlook for the Australian mining industry has never been stronger, and the numbers are clear.
Over the last 2 years, CRE has seen several insurance participants promoting and lobbying for a captive or mutual solution for the coal sector to help reduce costs and ease coverage acceptance.
So what are these silver bullets for the coal industry and how could they work?
Now we are through the full Financial Year for 2022, we lift our eyes to the year ahead having generally overcome a lot of market challenges in the last couple of years; now to only face even more.