The industry is easily circumventing the international campaign to deny it financing and looks likely to thrive into the next decade, The Economist reports.
Mountains of coal are piled beneath azure skies at the port of Newcastle, Australia. Giant shovels chip away at them, scooping the fuel onto conveyor belts, which whizz it to cargo ships that can be as long as three football pitches. The harbour’s terminals handle 200 million tonnes of the stuff a year, making Newcastle the world’s biggest coal port.
Throughput is roaring back after floods hurt supply last year. Aaron Johansen, who oversees the Newcastle Coal Infrastructure Group, the newest, uber-automated terminal, expects it to stay near all-time highs for at least seven years.
