CENTENNIAL Coal says the demand for coal remains strong despite the difficult economic climate.
The company, which supplies almost half of NSW’s coal-fired electricity, posted a 5.5% increase in thermal coal sales during the three months to 31 December 2008.
Chief executive, Bob Cameron, says while the coal industry cannot be immune from the financial crisis, Centennial is showing “no sign of weakness”.
According to the company, production cuts from a number of Queensland mines, coupled with the northern hemisphere winter are having a “positive impact on thermal coal pricing”.
Thermal coal is principally used for power generation, with approximately 39% of the world's electricity generated through use of the resource.
Centennial says current disputes between Russia and Ukraine over gas supplies demonstrate that coal will continue to be an important part of the response to Europe’s demand for reliable energy.
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