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New UserIndia’s coal shift a double whammy for Indonesian exporters
14 Jul 2016
For many coal miners in Indonesia’s resource-dependent economy, a surprise shift in India’s coal industry – from big importer to potential exporter – could not have come at a worse time.
Prices have slumped over the past five years and a slowing China is buying less. Now, Indonesia faces an Indian double whammy: not only is its main export market producing so much coal that it aims to wind down imports in two years, it’s also set to start exporting for the first time – to a market dominated by Indonesia.
State-run Coal India is opening mines at the rate of one a month and expanding existing ones, as Prime Minister Narendra Modi fast-tracks environmental clearances to double output this decade and meet election promises to provide power to a population of 1.3 billion.
Source: Indian Express