04-06-2021 World Coal Production sees 432 new Proposed Projects, Upwards of 30% Increased Production by 2030, Maersk Brokers Research
• A study by Global Energy Monitor surveyed 432 proposed coal projects worldwide and found that by 2030 a total of 2.2 BMT of new coal would be added into the output circulation per annum. This represents an increase of 30% from the current production levels. China, Russia, India and Australia represent 77% of new-mine activity. China has 452 MMT per annum (MTPA) of coal mine capacity under construction and 57 MTPA in planning; Australia has 31 MTPA under construction and 435 MTPA in planning; India has 13 MTPA under construction and 363 MTPA in planning; and Russia has 59 MTPA under construction and 240 MTPA in planning.
• The report stated that the expansion is at odds with the IEA’s net-zero roadmap, which requires no new coal mines, as well as the UN goals, which would require coal production to decline 11% per year through to 2030 in order to limit global warming to 1.5 degrees Celsius. Notably, 1.6 BMT per annum of proposed coal mine capacity is in the early stages of planning and therefore vulnerable to cancellation. However, 0.6 BMT per annum of new mine activity is already under construction.