Australia Coal Downturn May Last Longer Than Government Acknowledges

first_imgAustralia Coal Downturn May Last Longer Than Government Acknowledges FacebookTwitterLinkedInEmailPrint分享Australia Associated Press:The downturn in the coal industry will last longer than expected and prices won’t improve until at least 2020, an economics professor has warned.The dire prediction comes as the Queensland Resources Council lobbies the Queensland premier, Annastacia Palaszczuk, for emergency relief measures to help prop up the state’s ailing coalmines and save thousands of jobs.An economics professor at Central Queensland University, John Rolfe, said the downturn in coal prices was expected to last another four years, which was much longer than previously thought.“Nobody predicted that the slowdown in mineral energy prices would be as swift or as long reaching,” he told ABC Radio on Tuesday. “So these sorts of costs weren’t seen as an issue even two years ago.”However, Rolfe doesn’t agree with reducing royalties to the state government, which is among the measures the QRC is pushing for after a report painted a bleak picture of the coal industry.The report, by mining sector analysts Wood Mackenzie, found a third of Queensland coalmines are running at a loss and more than half of the mines producing thermal coal for power stations are in the same position.Cockatoo Coal’s Baralaba mine has become the latest Queensland coalmine to halt production.The mine, which went into administration last year, has been put into care and maintenance mode to protect the value of assets while a possible sale structure is examined, the ABC reports.The chief executive of the QRC, Michael Roche, has warned 21,000 jobs have been lost in the sector and more of the remaining 60,000 will be on the chopping block unless the state government offers relief.Coal price won’t improve for years and mining downturn will last: professorlast_img read more

Cristiano Ronaldo honoured by Real Madrid for club goals record

first_imgReal Madrid held a special ceremony to honour Cristiano Ronaldo on Friday after he became the club’s all-time leading scorer.Ronaldo scored his 322nd and 323rd goals on Wednesday in Madrid’s 2-0 win over Malmo in a Champions League game in Sweden, matching the mark previously held by Raul Gonzalez.The club, however, consider Ronaldo to have already broken the record, counting a deflected free kick in 2010 that was later officially credited to Pepe.Real presented Ronaldo with a custom-made trophy in a ceremony attended by his family and teammates at the Bernabeu on Friday.After a long video showing Ronaldo’s official presentation in 2009 and many of his greatest feats and important goals, club president Florentino Perez gave a speech praising the Portugal forward. “It’s a very emotional day for all Real Madrid fans,” Perez said. “One of our own has achieved something that was considered almost impossible to achieve. Only through his talent, his hard work and his determination was this possible.”Ronaldo also surpassed the 500 mark for career goals for club and country in the game against Malmo.”To me it’s an honour to receive this award. I didn’t expect it,” Ronaldo said. “When I wore Real Madrid’s jersey for the first time I never imagined that one day I would become the club’s greatest scorer, surpassing my friend Raul and the late [Alfredo] Di Stefano. I’m very happy.”Ronaldo needed 308 games to reach his mark, while Raul did it in 741 matches from 1994 to 2010.Ronaldo is also the all-time scoring leader in the Champions League with 82 goals, five more than the injured Lionel Messi. Several of Ronaldo’s teammates were present for the ceremony at the stadium, as well as Madrid coach Rafa Benitez and the player’s mother and young son. The 30-year-old Ronaldo posed for photos with all of them after the ceremony.”First of all, I need to thank my teammates,” he said. “Because without their support and their commitment, this achievement would never be possible.”Ronaldo caught the eye of talent scouts while playing for Sporting Lisbon in the early 2000s, earning a transfer to Manchester United as a teenager. The Portuguese forward moved to Real Madrid after nearly six seasons in the Premier League.”His name already is a legend in Real Madrid,” Perez said. “I hope the legend will keep on going.” –Follow Joy Sports on Twitter: @Joy997FM. Our hashtag is #JoySportslast_img read more