CHINA- The Chinese government is set to decrease its coal consumption by well over 50 percent in the next 5 years stated officials from the National Energy Administration (NEA) on Tuesday.
The goal for China is to decrease fossil-fuel reliance, and increase non-fossil fuels use, having them provide the country with 11 percent of their energy needs by 2015, and increase it to 15 to 20 percent in the next ten years.
China has also placed a heavy focus and strong policies towards decreasing fossil-fuel carbon emissions, after strong opposition from worldwide countries and agencies chastised the government for not placing any importance on the issue.
“The Chinese government faced heavy scrutiny over their treatment of the environment, and their lack-luster approach towards dealing with carbon emissions, but after heavy scrutiny on the world stage they have taken a newly charted course towards these issues” said China Mineral Company consultant Bob Meaks. Over the past 5 months China has aggressively closed 620 small substandard coal mines, said Zhou Xi’an a senior official of the NEA at a press conference.
“This has implications to industries all over China, as some will see gains from the changes, and some loses, as for CMC, with their innovative approaches to mining and their unique techniques, not to mention their strong ties with the local and federal government, the slowing of coal should do little to effect the company’s strong momentum” said Meaks.
China Mineral Company Ltd. was formed in 2007 to explore unallocated tracts of land abutting the Yashan gold mine. After initial surveys found not just silver, but extractable gold, the Company launched its initial round of fundraising. The company has since come to agreement with the Chinese government and was able to begin operations in the middle of 2008.
For More Information Please Contact Clair Barton at +8613502259111 or visit www.chinamineralco.com