Coal news and updates

 

China's coal output likely fell 2.5% last year, with official statistics showing China consumed 1.1% less coal in the first three quarters of 2014 compared to the previous year, The Wall Street Journal reported. The drop-off in buying has already rattled the global markets; China's imports of thermal coal fell by 15% last year and imports of coking coal, used for steelmaking, were down 17%. To achieve an energy mix less dependent on the mineral, China's government has begun forcing smaller mines to close or be absorbed into state-owned companies. Last year, nearly 1,000 small collieries were shut, said Song Yuanming, deputy head of the State Administration of Coal Mine Safety.

 

 

Source: http://www.chinaeconomicreview.com/