News Wrap

IN today’s News Wrap: Queensland joins the coking coal price upgrade party; Syrah digs on as Mozambique terror fears grow; and Brazil to adopt stricter environmental rules for mining.

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Queensland joins the coking coal price upgrade party

The corporate sector's recent optimism towards coking coal prices found further support on Tuesday when the world's biggest exporter of the commodity raised its medium-term price forecasts by 13%, according to the Australian Financial Review.

The Queensland government predicted prices for premium hard coking coal will remain above US$130 a tonne until at least mid-2022, in an advance on last year's prediction that it would gradually retreat towards $115/t in the medium term.

Queensland produces close to 50% of the world's seaborne coking coal, and the state government expects the commodity to fetch $161 /t in fiscal 2019, dramatically higher than the $123/t that was forecast for fis...

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