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Newcastle sets coal export record

Newcastle sets coal export record article image
The Port of Newcastle has set a new record for coal export, according to acting NSW treasurer John Hatzistergos. December 2009 saw the port export 8.97 million tons of coal, which surpassed the previous best recorded just a couple of months prior in October 2009. "The continuing strong demand for coal comes on top of the new Hunter Coal Export Plan which will further boost coal export revenue and prosperity for the Hunter region," he said. While Hatzistergos reported the NSW economy had now grown to more than $382 billion, almost one third of the national economy, the state's economic growth is the lowest in the nation, according to a CommSec report. Hatzistergos said the report benchmarked NSW against itself and was not an indicator of performance compared to other states. He predicted the state's economy would grow by 1.5 percent in the 2009/10 financial year.

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