Coal has been used as a primary source of heat and energy since the old times. It has been an important fuel resource for various countries that it powered up the Industrial Revolution in the 18th and 19th Centuries. In a way, it has had significant contributions to the development of certain countries. In this article, let us dig deeper into how mining companies, like Kestrel Coal, have helped Australia in terms of economy.
Gross Domestic Product (GDP)
When you read news and articles about coal mining, like those you would find on websites such as https://kestrelcoal.com/, it is easy to get the impression that Australia truly is one of the biggest players in the world in terms of coal mining. Specifically, the country holds a huge piece of the pie of the black and brown coal reserves.
In fact, black and brown coal is contributing almost 10% to the Australian GDP, with a share increasing by more than 3% from 2000 to 2010. Brown coal has been popular for domestic use, while black coal has been popular as an export commodity.
With huge reserves of black coal, Australia has once become the largest exporter of such a commodity in 2009, supplying 28% of the world’s total. The country was also the largest exported coal earner in 2010.
According to a report by the Australian Bureau of Statistics (ABS), the total estimated bituminous coal resources the country can supply have accounted for almost 40 gigatonnes. In terms of export rankings, Australia is only behind a few countries from the top, including the US, China, Russia, South Africa, and India.
Employment
The ABS also reported that coal mining companies in Australia, including Kestrel Coal, have already employed almost 40,000 people. Some surveys even claimed five to nine times this number.
Regardless, it is beyond question that the industry has given many families a good source of income, which in return, made their lives much better. As such, it has become a dominant contributor to the Australian economy.
National Wealth and Performance
Coal mining has continued to act as a pillar to support the economic growth of Australia, especially of Eastern Australia. According to reports, the industry has been directly injecting tens of billions of dollars into states, such as New South Wales and Queensland, as well as creating thousands of direct jobs and supporting thousands of businesses.
Coal mining companies, including the one you find at https://kestrelcoal.com/, directly help a region’s economy by way of wages, purchases, and contributions.
Despite tough economic times, coal royalties by these companies have continued to support Australia’s coffer to help pay for public services and facilities, such as roads, schools, and hospitals.
Be Part of the Industry
While there are stories about the impact of coal mining on the environment, it cannot be denied that the industry has contributed more good than bad when it comes to Australia’s economic development.
Now, if you want to be part of a coal mining organisation that cares, you should check out Kestrel Coal. This company has cemented its position as a coal miner and producer in Australia that has been operating since 1992.
