China fires up coal power plant construction

China approved nearly 10 gigawatts of new coal-fired power generation projects in the first quarter, roughly equal to the amount approved for all of last year, amid a broader scramble to jump-start an economy hobbled by the COVID-19 epidemic.

Investment in infrastructure like power generation has played an important part in China’s rapid economic rise, especially in times of economic distress like the global financial crisis of 2008 and 2009. Many expect such spending to play an important role as Beijing tries to restart the economy in the aftermath of the coronavirus outbreak that has brought activity to a crawl,

Read More

Mongolia says international IPO for coal mine no longer needed

ULAANBAATAR – Mongolia has shelved plans to sell up to $3 billion in shares of the country’s flagship coal mine on an international stock market, as officials say the funds are no longer needed.

Officials had previously signaled plans to hold the long-planned initial public offering for Erdenes Tavan Tolgoi in Hong Kong before scheduled legislative elections in late June.

The flow of IPOs on to markets in Hong Kong and globally has fallen off dramatically amid turmoil caused by the coronavirus pandemic. But the Tavan Tolgoi IPO appears to have become a victim of the charged pre-election political environment 

Read More