Global New Coal Mining Capacity Prediction

   The new report released by the American Global Energy Monitor (GEM) states that in 2024, global new coal mining capacity will drop to its lowest level in ten years, but future projects still face the risk of overcapacity.

   In 2024, the global new coal mining capacity will be approximately 105 million tons, a 46% decrease compared to 2023, which is the smallest increase in ten years.

   However, in North America, metallurgical coal projects for steel production account for more than 70% of the proposed capacity. In terms of mining methods, underground wells account for half of the proposed new coal mine capacity (11.53 billion tons).

   GEM data covers 850 new mines, expansion, and restart projects worldwide, with China, India, Australia, and Russia accounting for nearly 90% of all proposed development projects.

   Of the planned new coal development capacity of 22.7 billion tons, 13.5 billion tons are in China, exceeding the total of other regions worldwide. Researchers suggest that if these projects are fully implemented, it may result in a surplus capacity similar to that from 2012 to 2025.