No 1 source of global mining news and opinion
China is rapidly approaching peak coal consumption, but the fossil fuel’s role in helping to address energy security concerns means its use will plateau for some time after that, according to the nation’s top industry association.
Coal is being displaced in the power sector thanks to a huge surge in wind and solar additions last year, while the real estate crisis is helping to cool demand from heavy industry, said Zhang Hong, deputy secretary-general of the China National Coal Association. At the same time, the growth of renewables means coal is in demand to help balance out intermittent generation.
China mines and burns more than half the world’s coal, making its power sector the single biggest contributor to planet-warming greenhouse gas emissions. A series of power shortages in recent years led the government to boost mining to a record and go on a spree building new coal power plants, even as it invests more than any other country in clean energy.
Coal consumption rose 5.6% last year, a faster increase than the prior year, as the country left Covid-19 restrictions behind at a time when hydropower generation was hit by an historic drought. Still, the International Energy Agencycoal consumption in China will fall in 2024 and plateau through the next two years. President Xi Jinping has promised that the country’s use of the fuel will begin to decline from 2026.
The debate over fuel’s trajectory continues, though. At the same conference, Wu Wenbin, head of coal management at Guangdong Energy Group, said he expects a 4% increase in consumption this year. Fenwei Digital Information Technology Co., the conference organizer and a coal industry research firm, forecasts a 2% rise this year for power-station coal.Support has also come from a report this week that South Korea’s Young Poong Corp. cut production at its Seokpo smelter.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China’s First Cruise Ship: Made in China, Sourced from EuropeThe Adora Magic City is heavily reliant on foreign technology. According to the cruise’s chief designer, only 30% of the ship was built by domestic suppliers, while the rest was sourced from Europe.
Read more »
2024 Recruitment notice Shenzhen Institute of Synthetic Biology: Shenzhen, China - Shenzhen,China job with Shenzhen Institute of Synthetic BiologyJob Highlights Growing International R&D Team Job Type: Full-time, Five-day/week Recruiting Positions(Job vacancies) Professor Track： • Professor • Associate Professor • Assistant Professor Engineering Track： • Senior Engineer • Engineer • Assistant Engineer Professional： Physics, mathematics, artificial...
Read more »
China’s State-Sponsored Hacking Record Invalidates Claims of InnocenceChina has a documented history of malicious and espionage cyberattacks around the world, most of which are linked to Chinese government actors.
Read more »
Exclusive: China Has Rapidly Increased Market Share of U.S. Medical Glove Imports During Biden PresidencySource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
Don't count on a soft landing for the U.S. -- or the global economyDevelopments in China, Europe and the United States portend big challenges ahead
Read more »
Mexico Surpasses Canada as Top US Trade Partner, China Falls by 16.7%See multiple perspectives from ZeroHedge, Insider, and Forbes at AllSides.com.
Read more »