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New UserChinese coal production sinks for first time in 14 years
27 Jan 2015
The amount of coal produced in China likely fell for the first time in 14 years in 2014, according to industry data.
China produced 3.5 billion tonnes of coal in the first 11 months of last year, a 2.1 per cent decline on the same 11-month period of 2013, according to data released by the China National Coal Association (CNCA) yesterday.
The CNCA estimates that total coal production for the calendar year will be down by about 2.5 per cent on the figure for 2013.
If its estimate is accurate, this will be the first time that coal production in China has experienced a year-on-year decline since 2000.
Oversupply is likely to continue in 2015 and production is likely to fall another 2.5 per cent, according to Jiang Zhimin, the vice president of the CNCA.
Jiang said that China already has excess capacity of 4 billion tonnes and is in the process of adding more than 1 billion tonnes in new capacity.
Source: http://www.theaustralian.com.au/