S.Africa's Thungela says emerging markets will want coal for decades

A bucket wheel excavator processes coal at the Phola Coal Processing Plant near Witbank, in the Mpumalanga province, South Africa January 17, 2023. REUTERS/Siphiwe Sibekoexpects strong coal demand from emerging markets for at least two decades and believes it can attract funding for as long as returns are attractive, its CEO said on Monday.

Climate capaigners are opposed to the continued use of coal as it is the most carbon-intensive fossil fuel, but the industry sees scope for high profits. Coal demand and prices have surged following Russia's invasion of Ukraine last year, which led some European countries to switch from lower carbon gas to coal because of the disruption of energy supplies.

"I have no doubt in my mind that coal is here to stay for a lot longer than most people predict," July Ndlovu, chief executive at Thungela told Reuters on the sidelines of an African mining conference in Cape Town."We know that in those markets coal use is likely to remain part of the energy mix for the next two decades, maybe three," he said.

Let’s intimidate and provoke so we can wage more wars in order to earn not only from weapons sales but also from climate change. What geniuses!

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