chinese demand for coal doubles

Bit more reading for the w/end :)

http://coalinvestingnews.com/3703/chinese-coal-imports-surge/

snippet:
"... July coal imports in China surged by 36 percent to 17.53 million tonnes, topping the previous record of 17.34 million tonnes in December of last year. The increase comes on the back of the largest energy shortages in seven years in China as the country continues to struggle to quench its growing thirst for coal. As a result, the growing demand from Chinese coal imports (China became a net importer of coal in 2009) to meet this need carries significant weight in setting world prices, an impact which is set to increase.

To put China's demand in perspective, in 2010, China alone accounted for 48 percent of global market volume, up from 45 percent in 2009. Worldwide global coal demand is set to increase by 55 percent between 2007 and 2035 with non-OECD Asian countries (including China and India) will account for 95 percent of the projected increase in world coal consumption.

For 2011, China's projected coal demand growth rate is expected to be 9.7 percent, with a longer term growth rate of between of between 5 and 8 percent (depending on estimates). This means China would double its demand for metallurgical and thermal coal in less than ten years, taking total consumption to over 6 billion tonnes per year. While imports currently constitute a small percentage of total coal supply, about 5 percent or 150 million tonnes in 2011, congested transit systems have and high transport costs are set to be a decisive factor in determining the contribution imports will make in China's coal supply.
..."

Guess that's why we are, where we are.
July alone was up 36% !
IF that maintained, 100% is just under 3 months.
2013 mining great possibility for the CEO ship? Sure hope so
Should bring some divi's in soon after. Just a thought.

Cheers :)