Australia seeks to reassure investors over coal ban at China port 9:49pm EST [Reuters]
BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP)
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Source: Reuters
Australia seeks to reassure investors over coal ban at China port | Reuters 3 Min Read SYDNEY (Reuters) - Australia sought to calm investors on Friday about the state of bilateral ties with China following a ban on coal imports at the northern port of Dalian, as coal stocks fell and the local dollar remained under pressure. The Australian currency dropped more than 1 percent to a 10-day low of $0.7070 on Thursday after Reuters reported that customs at the Chinese port had banned imports of Australia’s biggest export earner since the start of February. China is the largest buyer of Australian coal, taking 89 million tonnes last year, worth A$15 billion ($10.7 billion), according to data from the Australian Bureau of Statistics (ABS). Ties between the two countries were strained in 2017 when Canberra accused Beijing of meddling in its domestic affairs, and the relationship suffered another setback last year when Australia banned China’s Huawei from its 5G broadband network. Australia ha
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