China to create strategic coal reserves
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  • Reports noted that China was expected to create a strategic coal reserve as early as in 2010 as imports of fuel are set to surpass exports for the first time ever on an annual basis. Coal provides 70 per cent of China's energy needs. State-run mining giant China Shenhua Energy Co. has been asked to build a network of 10 reserve sites capable of holding a total of between 100 million and 200 million tons of coal. China aims to keep the equivalent of about 10 per cent of domestic consumption in reserve.1