Articles

China Opens 17 New Coal Mines to Support China’s Massive Infrastructure

by Rudy P. SysAdmin at howtofindthemoney
Analysis reveals that the amount allocated to large infrastructure projects by Beijing has doubled this year, with airports and high-speed rail lines among 21 schemes allocated a total of £83.9 billion.

Included in the new allocations is funding for 17 new coal mines across China, despite Beijing’s pledges to reduce reliance on the power source.

Seven mines were approved last year and, between 2017 and 2018, China added 194 million tonnes of coal mining capacity with the total number of mines reaching more than 3,000.

China, the world’s biggest coal consumer, has vowed to cap carbon emissions by 2030, although it has stopped short of the “net-zero” emissions target by 2050 pledged by the European Union.



The move to increase coal production comes as China is expected to announce its five-year energy strategy.

The country is in the sixth year of its “war on pollution” to reverse the damage done by decades of industrial growth that has left many cities blanketed in smog.

In a speech to China’s National Energy Commission, Li Keqiang, the premier, suggested Beijing was once again turning towards coal, despite government scientists conceding it was the “most dirty energy”.

“Given our country’s bounty of coal resources . . . [we should] promote the safe, green extraction of coal and development of clean and efficient coal,” Mr. Li said, according to reports.

China’s 2019 Coal Imports Set To Rise More Than 10%

China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, countering earlier expectations that shipments would be capped by Beijing at the same level as 2018.

Coal mining in China

China’s coal imports have already surged 9.5% in the first nine months of 2019 to 250.57 million tonnes, customs data shows, and at least 18.84 million tonnes of seaborne coal are due to arrive this month, according to vessel-tracking and port data compiled by Refinitiv.

With China typically bringing in about 7 million tonnes more a month on trucks and trains from Mongolia and Russia, total volumes are likely to reach 276 million tonnes well before the end of the year.

Last year’s total was 281.23 million tonnes.


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About Rudy P. Magnate II   SysAdmin at howtofindthemoney

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Joined APSense since, April 9th, 2013, From Solo, Indonesia.

Created on Oct 24th 2019 21:10. Viewed 795 times.

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