LEADERSHIP
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Earlier this year , one of the world ’ s leading mining companies announced that it was to end its assoc- iation with an international coal lobby group , citing ‘ material differences ’ and a ‘ narrow range of activities of benefit ’.
Given that this was BHP Billiton , the world ’ s largest exporter of coal for steel making , cutting its ties with the World Coal Association ( WCA ), one could be forgiven for thinking this would have a major impact on both the coal industry and on the WCA itself . Add to this news that a number of major companies including Rio Tinto and BHP Billiton have sold off most of their coal assets , what does this mean for coal ? Are we going to see the end of coal as a major resource ?
“ We see coal as being a vital , strategic and economic resource for the world because today , cIose to 40 % of the world ’ s electricity comes from coal ,” says Benjamin Sporton , former Chief Executive of WCA , speaking to us earlier this year as his tenure comes to an end . “ It ’ s still a very important part of making steel and cement and other products as well . So , it ’ s a critical strategic and economic resource , particularly in developing an emerging economy .”
NOVEMBER 2018