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Coal Price Decline to Impact Aussie Investment, Frydenberg Says

  • Energy market fundamentals `positive' even with China slump
  • Frydenberg hopes Glencore will regain strong market position

Australia, the world’s second-largest coal exporter, expects foreign investment in the industry to decline as a slump in Chinese demand continues to put pressure on prices for the fuel, Resources and Energy Minister Josh Frydenberg said.

“There’s been a slowdown in international prices and particularly coming out of China,” Frydenberg said on the sidelines of a Group of 20 meeting in Istanbul Friday in an interview with Bloomberg Television. “That has to have a knock-on effect to countries like Australia in terms of the investment that may be made over the coming period.”