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China has allowed 15 more coal mines to restart operations as the country seeks to fill the continued increase of demand for power.
Source: Bloomberg
The National Development and Reform Commission said 15 coal mines across northern provinces such as Shanxi and Xinjiang will restart for a year. Deliveries of the mines are estimated at 44 million tons.
The development comes amid efforts to taper down thermal coal prices, which have climbed by about a third so far in 2021, after hitting a record in May due to the summer heat and industrial expansion.
Chinese policymakers in July proposed to ease measures to curb emissions, in line with efforts to address the power demand and ensure continuous growth.
The mines are on top of the 38 coal mines in Inner Mongolia, which were allowed to restart operations in an announcement last week, bringing the total sites allowed to 53.
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