Chinese group makes billion-dollar bet on B.C. coal: Globe
A coal project in northeastern B.C. that is being developed by a Chinese consortium could produce up to 2 million tonnes of met coal annually for the next 30 years, the Globe and Mail reports:
A Chinese group is making a $1-billion bet on coal in British Columbia to secure a key raw material for its steel making industry, the latest in a series of moves this year by international companies to stake a claim on Canadian resources.
A consortium of Chinese companies, including Shougang Group, one of the country’s top steel makers, plans to develop three underground coal mines in northeastern B.C., a region rich with coal that fell on hard times in the 1990s but is now booming again.