China researches new protective measures for rare coal exploitation

Friday, 17 June 2011 17:11:06 (GMT+3)   |  
       

China's National Energy Authority (NEA) is researching protective measures on exploitation of rare coals, including coking coal and high-quality anthracite, according to China-based newspaper China Daily.


Global rare coal resource prices surged last year after China imposed restrictions on their export. Analysts say the NEA is likely to cooperate with the relevant authorities to tighten restrictions on exploration and mining rights.


Coking coal prices excluding taxes in Shanxi province, one of China's most important coal producing regions, have risen from RMB 470/mt ($72.60/mt) in August 2007 to RMB 990/mt ($152.93/mt) in June 2011. However, recent prices of high-grade solid coking coal in Queensland, Australia hit US$306/mt, still RMB 600-700/mt ($92.68-108.13/mt) higher than the domestic price if VAT and custom duty are included.


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