China to Build More Coal Mines to Feed Surging Power Capacity
- Nation seeks to increase domestic supply of main power fuel
- China accounts for two-thirds of global coal power additions
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China will build more coal mines in its push for higher domestic supply and to tame price increases, according to the National Development and Reform Commission.
The world’s biggest coal producer and consumer set targets to add about 300 million tons of annual mining capacity for “emergency storage reserves” by 2030, the top economic planner said in a policy paper released Friday. Qualified miners — preferably in the top hubs of Shanxi, Inner Mongolia, Shaanxi and Xinjiang — will be encouraged to set aside as much as 30% of the new capacity as a backup to limit price spikes, it said.