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Australia-based diversified metals producer South32 has agreed to sell its Illawarra metallurgical coal operations in New South Wales state to an entity owned by Singapore-based Golden Energy and Resources (Gear) and Australia's M Resources for $1.65bn.

Indonesian coal producer Adaro Energy Indonesia surpassed its 2023 production and sales targets on the back of continued high domestic and international demand.

China's coal imports are expected to be little changed in 2024, despite expectations for an increase of 4% in demand for the polluting fuel, a senior executive of a State-run utility said on Friday.

The Ministry of Energy and Mineral Resources (ESDM) said that the target for the obligation to supply coal for domestic use or Domestic Market Obligation (DMO) in 2024 is larger than last year.

Its installed renewable energy capacity reached 53.09 GW at the end of 2023, up 22.6 percent year-on-year, according to the Shanxi provincial statistics bureau.

There is plenty of capacity at all four ports to raise throughput and cut shipping queues, weather permitting.

Clean coal usually means capturing carbon emissions from burning coal and storing them in underground pockets of porous rock.

"CPEC has laid a good foundation for Pakistan's industrialization, modernization as well as interconnection with other countries," Wang said.