China to declare its domestic coking coal a "rare resource"?

China’s National Energy Authority (NEA) is researching protective measures on "rare coal resources" such as coking coal, China Securities Journal reported, citing unnamed channels.

"Coking coal accounts for 25% of China’s total coal reserves while the proportion of combined prime and rich coal was less than 9%. The scarcity hits China hard, as coking coals are widely used in the manufacture of steel," it stated.

According to the publication, China is expected to exhaust its high-quality coking coal within 50 years if extraction continues apace.