As Australia’s coal exports to China have stalled, a Canadian resource export company hopes to increase its market share in China.
According to a Reuters report on December 2, Canada’s Teck Resources CEO Don Lindsay said on Tuesday (December 1) that the company hopes to take advantage of the difficulties faced by Australian coal in China.
To increase its export scale of coking coal to China next year. According to reports, since October, China has informally banned the import of coal from Australia, and instead increased the scale of coal imports from Mongolia and Russia.
Lindsay said there are currently about 75-80 ships of Australian coal waiting to be unloaded at Chinese ports, which has hit Australia’s coking coal prices.
Lindsay said at a live mining web conference held by Scotiabank: “So if you are a non-Australian coal producer and you can release a large share of coal exports from other customers’ contracts, then Selling coal to China, you will get a good performance.”
Last week, Tektronix Resources stated that it is adjusting its sales plan and hopes that the scale of coal exports to China will reach about 7.5 million tons in 2021. The company said that its current sales to Chinese customers account for about 20% of its total sales.
According to public information, Tektronix Resources Co., Ltd. is Canada’s largest diversified enterprise integrating mining, beneficiation and metallurgy.