FACTS ON THERMAL COAL June 2017 - Westshore Terminals · coal will be sourced elsewhere, and Canada...
Transcript of FACTS ON THERMAL COAL June 2017 - Westshore Terminals · coal will be sourced elsewhere, and Canada...
FACTS ON THERMAL COALJune 2017
Handlingsteelmaking
& thermalcoal
Long term contracts withCanadian &
US mines
Westshore Terminals: North America’s largest coal export terminal
47 yearsoperating on
Canada’s west coast
$270 millionin capital
investments underway
$45 millionenvironmental enhancements
The economic benefits of thermal coal through British Columbia are sizable
One-thirdof coal
exports through BC
1,000+ jobsIn Canada
1,000+in U.S.
$21 milliontaxes & fees
to governmentannually
$1.1 billioneconomic
activity in thelast decade
Westshore Terminals
$30 million BC marine services &
local suppliers annually
Valued at$832 million
annually
A ban will have no impact on global consumption; coal will be sourced elsewhere, and Canada will lose the economic benefits of export trade
BCExports11millionMT
Global ThermalProduction
5,800 million MT
Global Exports 1,000 million MT
40% of the world’s population relies on thermal coal to meet their basic electricity needs
Currently, 95 countries have a combined 7,000+ coal-fired plants, with an additional 500 planned or in construction
These nations depend on thermal coal exported through Canada for their electricity needs
Without our exports, they would turn to Indonesia, Australia or Russia to diversify their supply
South Korea, Japan & Chile: Key Markets for our Customers
Korea49%
Chile28%
Japan20%
U.K2%
China1%
Source:Westshore,2015
A ban or levy would have significant negative impacts across the industry
An ban, levy or tax is not the answer; we need to keep Canada strong and open for global trade
IT WILL
• Immediately result in hundreds of job losses for Canadians in BC and Alberta
• Eliminate $21 million in taxes and fees from Westshore alone to all levels of government
• Remove $30 million in annual local spending in Metro Vancouver by Westshore
• Cut 100 ships and related spending on fuel and other goods and services
• Further strain Canada-U.S. and BC-Alberta trade relations
IT WILL NOT
• Create jobs or economic activity for BC, Alberta or Canada
• Reduce global consumption of thermal coal for coal-dependent nations, like Japan and South Korea
• Increase Canadian steelmaking coal exports with the excess terminal capacity that exists today
• Help Canada-U.S. trade or inter-provincial relations