coal more important than oil for china

anyone just catch the Chinese analyst on CNBC, very interesting he was saying coal was way more important to the chinese energy needs than oil, and they are certainly concerned about supplies going forward.

now that CDS has control of the massive South African coal deposit, it wouldn't surprise to see them approached by some of the worlds largest steel makers to try and lock in future production. As we know the thermal coal will likely be sold directly to Eskom for local power generation, but the more valueable coking coal is certainly attractive to steel mills world wide desperate to lock in long term supplies.