The Forum > General Discussion > It aint gunna rain no more, no more,
It aint gunna rain no more, no more,
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Talking of tossers, what do you reckon about this state of affairs, spindoc?
http://www.businessspectator.com.au/news/2015/5/8/china/china-set-cut-more-coal-production
"China plans to shut down 1,254 coal mines in an effort to eliminate 77.79 million tonnes of outdated production capacity in 2015, as the country continues to clean up its high-polluting industries.
The move is aimed at promoting the use of renewable energy and curbing the expansion of the coal industry, according to a joint statement released by the National Energy Administration (NEA) and State Administration of Coal Mine Safety.
Chinese Premier Li Keqiang has indicated that Beijing intends to move forward on a proposal to hold down coal consumption growth in "key areas".
Coal production in China declined 2.5 per cent last year, the first drop in 14 years, while coal consumption dropped 2.9 per cent, according to the country’s coal industry association.
In March, the China Coal Industry Association estimated that 90 per cent of all coal mines in the country were making losses, and official data indicates profit margins for the industry have fallen to a 10-year low."