April 18, 2007
Coal prices on the rise
World prices for thermal coal, used in power stations, are likely to rise sharply in the next few years as China becomes a net importer of the fuel earlier than expected, says Mineweb. European coal prices have already risen to about $70 a tonne from $52 at the end of 2005, it adds. This should benefit mining companies such as Xstrata, Rio Tinto and BHP Billiton. Meanwhile China’s rush to produce the coal it needs from its own ramshackle mines is having tragic consequences. Mineweb points out that there have been three coal mining accidents in China in the last 24 hours.
