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Global coal roundup: Coal's global energy share 'flatlines' by 2040, BP says

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Global coal roundup: Coal's global energy share 'flatlines' by 2040, BP says

A roundup of international coal news from Feb. 19 to Feb. 26.

Coal's share of energy supply will drop to its "lowest level since the Industrial Revolution" by 2040 as fast-rising renewables drive a transition to "the most diversified fuel mix the world as ever seen," according to BP Plc's latest global energy outlook.

Asia

India: India's coal imports are expected to increase this year as Coal India Ltd.'s production struggles to meet demand, Bloomberg News reported Feb. 19, citing Benjamin Sporton, CEO of the World Coal Association. "Coal India is not quite keeping up to the targets," the report quoted Sporton as saying. "On the other hand, we're seeing a strong growth in power demand."

India approved a plan to allow private companies to participate in bidding for coal mines for commercial production, Reuters reported Feb. 20, citing Coal Minister Piyush Goyal. The move is expected to end state-owned Coal India's near monopoly on mining and selling coal in the country, after more than four decades of restrictions. Coal India accounts for 84% of the country's coal production.

South America

Colombia: Colombia's full-year coal output in 2017 stood at 89.4 million tonnes, down 1.2% from the 90.5 million tonnes of coal produced in 2016, Reuters reported Feb. 19, citing data from the country's Energy and Mining Ministry. Production from the world's fifth-largest coal exporter was near the government-set target of 89 million tonnes, the report said, citing a statement from Mining Minister German Arce, who said companies in the sector "responded in a positive way to the challenges that appeared in 2017."

Australia

Adani Enterprises Ltd. is again considering selling a minority stake in the Carmichael coal mine in Queensland, Australia, after it said it would be unable meet a March deadline to secure up to A$3 billion in financing for the controversial project, Bloomberg News reported Feb. 22.

Africa

South Africa: South African power utility Eskom Holdings SOC Ltd. confirmed Feb. 22 that the Optimum coal mine started business rescue proceedings Feb. 19. The mine has been unable to make coal deliveries since workers downed tools Feb. 22, and the power utility is sourcing coal from other mines for Hendrina.

Hundreds of members of South Africa's National Union of Mineworkers started a strike Feb. 21 at the Optimum coal mine owned by the Gupta family amid concerns over the operation's viability, Reuters reported the same day. A spokesman for the union said workers are worried over wages after several banks cut all ties with the Guptas due to reputational risk — though the family has repeatedly denied links to former South African President Jacob Zuma, whose presidency had been plagued by corruption — or to any other wrongdoing.

South Africa's Department of Mineral Resources warned that the Optimum coal mine will be suspended should its managers fail to comply with the site's social and labor plan, Bloomberg News reported Feb. 20, citing an emailed statement from the department. The mine was given 60 days to achieve compliance or face suspension.

This feature was updated as of 1:00 p.m. ET on Feb. 26. Some external links may require a subscription.