More than just greenies against Newcastle’s T4
Last month, PWCS management halted development of its controversial T4 coal terminal after downgrading its demand projections, citing falling commodity prices and the shifting global energy market. Considering the opportunistic nature of the proposal, this was always likely to be the case. The company’s environmental assessment used historically high estimates for steaming and coking coal prices, projected that export demand will continue to expand beyond 2020, and assumed the coal boom will go on forever.
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