Heffernan Inc Adds Thailand Coal Reserve
Heffernan Inc have secured a mid size coal reserve in Thailand with the intent to Joint Venture the site and export coal to China.
The acquisition of further Coal reserves is high on the list of priorities for the mining division of Heffernan Inc.
China’s reliance on coal-fired thermal power stations can do nothing but increase for the next few decades. This as well as other raw material demands offers Heffernan Inc significant export opportunities.
Coal currently provides 80% of China’s electricity. Three years ago China became a net importer. This year, according to Virtual Metals, thermal coal imports could reach 114 million tons from 2009’s 103-million, overtaking Japan in the process. Even then, if coking coal for China’s steel mills is counted, this year’s 170 million tons total imports will be small compared with annual domestic production of about 3.3 billion tons.
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