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China to Become Net Coal Importer in 1-2 Years
POSTED: 11:19 a.m. EDT, April 17,2007

China will become a net importer of coal in the next one to two years, Feng Fei, director of the industry department at the State Council's Development and Research Center, told reporters at an industry conference.

In 2006, China exported 62 mln tons of coal, down 13 pct year-on-year, while imports surged 46.1 pct to 38.25 mln tons.

Feng did not give a reason for lower exports and higher imports.

He added that coal production costs are expected to rise by 50-70 yuan per ton in the next year due to a tightening in environment protection policies and safety requirements.

But Jing Tianliang, general manager of China National Coal Group Corp (ChinaCoal), told reporters that rising imports were mainly due to increased demand in China as well as lower prices in the international market.

From: AFX
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