China’s insatiable demand for energy has triggered a coal-mine building boom in Australia, which now supplies China with a third of its coal. With plans for 10 massive Australian coal mines worth more than $45 billion under way, investors are counting on China to keep burning the black stuff at a rapid clip to make those projects profitable. But that would a bad bet.

A report released today (pdf) predicts prices will fall as China, which consumes half the world’s coal, cuts imports to fight pollution and meet climate-change goals. As a result, says the report, Australia’s new mega-mines are likely to become money-losers. Even current coal prices would already leave four of the planned mines in the red, according to the study by the University of Oxford’s Stranded Assets Program.

via A greener China could put $45 billion of Australian coal projects in the red – Quartz.