Coal boom slows as focus shifts to renewables

Climate goals: Excavators transfer coal at Lianyungang Port in China. Shanxi province has cut its annual growth target for the commodity by nearly half for this year. — AFP

Beijing: China’s coal boom is slowing as top mining regions limit growth and steer investment to the clean energy that will replace the dirtiest fossil fuel.

Seven straight years of rising output, including a 10% surge in 2022 after nationwide power outages crippled industry, have produced a glut of coal.