August 18, 2017 - The Australian coal industry is set to invest Aus $255 million into research into modern, more efficient coal technology.

Funding will be extended for the Coal21 fund – which develops and researches modern coal technology.

Finances in part come from a levy on coal mining production by major companies.

Examples of Coal21 investments so far have included carbon capture projects at Queensland Callide power plant and in Victoria’s Otway basin.

This news comes after a report published in July by the Minerals Council said that the use of modern High Efficiency Low Emission coal power plants would have a significant role to play in reaching emissions reductions targets.

At a recent G20 meeting the United States argued that the promotion of more efficient fossil fuels should be part of global policy on reducing emissions. The United States is also set to use its position within the World Bank to promote the more efficient use of fossil fuels.