Global Resources Strategy: Diversifying the Use of Coal

Minister for Resources and Water, the Hon Keith Pitt MP, announced on 7 May 2021 that the Australian Government is committing $20.1 million in the 2021-22 Budget to diversify our resources export markets in the form of a Global Resources Strategy (GRS). To achieve the objectives of the strategy, the Department is developing a series of measures. One of these measures is to gather market indicators and understand the interest, drivers and objectives of research and development (R&D) of non-traditional uses of high-emissions commodities, such as coal. This falls under the strategy’s objective to support industry partnerships and research and development that support the commercialisation of alternative uses for high-emissions resources and processes.

The resources sector remains a major contributor to the country’s prosperity and economic wellbeing. Coal, in particular will continue to play an important role in the world’s energy mix for years to come. The International Energy Agency projects coal demand in developing economies, particularly in Asia, to remain strong in the short to medium term to 2030 (Global Resources Statement, 2021). However, changes to the global energy mix are projected, and opportunities also exist to invest in research, development and commercialisation of alternative uses for high-emissions resources, including coal. As an example, the Government is committed to a technology-led approach to lowering emissions through projects such as the Hydrogen Energy Supply Chain pilot project. This project when combined with Carbon Capture and Storage, has the potential to create a high value, low emissions use for Australia’s abundant brown coal reserves.

Accordingly, the Department would like to invite suitably qualified consultants to submit a tender to provide market analysis on further research that is being undertaken into high value, low emissions uses of coal and develop a detailed insights report.