Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Chilean trade agreement welcomed by NZ exporter

2 June 2005

Chilean trade agreement welcomed by New Zealand exporter

Coal producer, Solid Energy New Zealand Ltd, New Zealand’s largest exporter to Chile, has welcomed the free trade agreement linking the two countries. The Trans-Pacific Strategic Economic Partnership agreement, which includes Chile, Brunei, Singapore and New Zealand, was announced today by Trade Minister, Jim Sutton, at an APEC meeting in Korea.

Chile has agreed to immediately lift the tariff on New Zealand coal imports, making the product about 6% more competitive in this export market. Solid Energy’s thermal coal exports to Chile generated NZ$9.5 million in foreign exchange earnings in the year ending June 2004, representing a quarter of the value of all New Zealand exports to Chile (NZ$36.5 million).

Solid Energy’s Export Marketing Manager, Malcolm Roberts, says: “Chile is a natural market for Solid Energy; we have a significant advantage compared to our competitors in the region – Indonesia and Australia – due to the shorter shipping distances. Lifting the tariffs should help us to improve our very low margins in this growing export market and make New Zealand thermal coal more competitive, in what is an extremely competitive commodity market.”

At up to 200,000 tonnes per annum, coal exports to Chile represent around 6% of Solid Energy’s annual international sales. Solid Energy’s has been trading with its major customer in Chile, AES Gener, since 1996.

The company’s premium thermal coal, mined on the West Coast, is highly sought after by power generators and industrial users due to its high energy value and low ash. Chile, which has a population of almost 16 million, currently has an energy supply shortage, due to shortages of Argentinian natural gas. Coal is being used to fill the gap and provide energy security.

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news