China Seeks to Cut Reliance on Coal Imports With Mining Boom
NDRC aims to increase output capacity by 300 million tons
Country sets target of 620 million tons of coal reserves
Bloomberg News
March 13, 2022, 10:48 PM EDT
China plans a massive increase in coal mining, a move that will dramatically reduce its reliance on imports and deal a blow to its near-term climate actions.
The National Development and Reform Commission, the nation’s top economic planner, told officials from major mining regions at a meeting late last week that it wants to boost domestic production capacity by about 300 million tons, according to people familiar with the matter. It also plans to build a 620 million-ton stockpile of the fuel split between government, miners and users.
Such an increase in output would cut the country’s already scant dependence on foreign imports after global prices hit record levels in the wake of Russia’s invasion of Ukraine. The measures also highlight concerns that China’s reliance on fossil fuels remains as entrenched as ever, as it seeks to enhance energy security to limit disruptions to economic growth, regardless of the impact on its climate goals.
https://www.bloomberg.com/news/articles/2022-03-14/china-seeks-to-cut-coal-import-reliance-with-mining-boom
