Coal news and updates

Global Investment in Coal to Increase by 10 Percent: IEA

Investment in global coal production and supply in 2023 is expected to increase by about 10% from the $135 billion spent in 2022, the International Energy Agency said.

IEA, in its World Energy Investment 2023, said nearly 90% of this investment will likely be in the Asia-Pacific region, notably in China and India where both countries have looked to expand production and develop new coal mines, S&P Global Platts reported.

About 40 GW of new coal plants were approved in 2022 – the highest figure since 2016 – with almost all of these being in China which is focusing on energy security after many regions in the country faced blackouts in the recent past.

The report noted that robust coal demand and high prices during the energy crisis in 2022 are also feeding through into higher global investment. 

Coal investment had increased to $135 billion globally in 2022, up 20% on year, and is expected to rise to $150 billion in 2023.

While the biggest share of the large profits announced in 2022 was returned to shareholders, they were also used by some to diversify into other commodities and pay off debt, IEA said.