India lends helping hand to US coal miners struggling for buyers; this is how


India lends helping hand to US coal miners struggling for buyers; this is how

The big bright spot for U.S. coal miners is located halfway around the world. India almost tripled its imports of the rock from America in the first quarter from a year earlier, helping fuel its fast-growing economy and making it the largest foreign buyer of U.S. coal, according to the U.S. Energy Information Administration.

The South Asian nation is extending a lifeline to U.S. miners who are struggling to find buyers at home as cheap natural gas and renewable energy continue to force coal-fired power plants into retirement. Miners are increasingly relying on overseas sales to maintain — or at least slow the decline in — production levels.

The U.S. may export 104 million tons of coal in 2018, up 7.2 percent from a year ago, the EIA forecast in its July Short-Term Energy Outlook published Tuesday.

Through April, India had brought in almost 7 million tons, approaching a fifth of all U.S. exports of the fossil fuel. The next largest customers included South Korea, Japan, Brazil and the Netherlands. Read More

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