Coal news and updates

 

China will tighten approvals for new coal mines, eliminate small and unsafe ones and encourage industry consolidation in a bid to curb vicious competition, China's State Council, or cabinet, said late on Wednesday.

 

The policies are aimed at aiding the country's struggling coal sector, which has been suffering from over-capacity and falling prices.

 

Beijing will also raise the threshold for coal imports by stengthening quality checks and encouraging high-quality imports, as well as reducing taxes and fees on coal producers, according to the statement, which was published on the website of China's coal association.

 

China's coal industry has been hurt by a fall in coal prices, as well as a government strategy to switch to cleaner fuels.

 

Source: www.businesstimes.com.sg