Extract from AUST today:..
’CHINA, INDIA DRIVE RECORD DEMAND FOR COAL
Global coal demand is forecast to hit a new high in 2024, driven by strong growth from China and India as climate change tsar Matt Kean warned handouts to prolong coal stations in Australia risked creating a “moral hazard”.
The International Energy Agency’s closely watched World Energy Outlook report found global coal production reached a record last year, powered by growth in China, India and Indonesia.
Global coal demand increased by just over 100 million tonnes of coal equivalent in 2023 to about 6000 million tonnes of coal equivalent, mainly because of increased use in the power sector in the Asian nations.
Demand this year is expected to be slightly higher than in 2023, according to the IEA, as strong electricity demand in China and India result in higher coal use, more than offsetting continued cuts in coal use in the EU.…..’
NHC Price at posting:
$5.02 Sentiment: Buy Disclosure: Held
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