Russia has more than 100 years worth of coal at current and higher production capacities, the Minister of Natural Resources and Environment Alexander Kozlov said Friday.
Russia’s total coal reserves are estimated at 273 billion metric tons, 46.4 billion of which is currently being extracted, according to the RIA Novosti state news agency.
“Even with increased current production, which totaled 392 million tons in 2023, the availability of coal reserves exceeds 100 years,” Kozlov was quoted as saying ahead of National Miner’s Day in Russia this Sunday.
Like oil and gas, Western sanctions against Russia’s energy exports after the 2022 invasion of Ukraine have forced Russian coal miners to reroute deliveries to Asia at steep discounts.
But commodities analysts said Russia’s coal exports to Asia weakened this year amid stiff price competition from rivals Indonesia and Australia.
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