A survey of more than 5,000 mining and quarrying firms suggests that the mining industry has a lot to live up to.
But it could also have an uncertain future if the Chinese government decides to take its eye off the ball.
Key points:The survey of companies revealed that many are losing money as China continues to build the world’s largest coal-fired power plant in the United StatesAs part of its expansion plan, China is planning to construct a 1,300MW coal-burning plant at the Port Arthur site in the US.
But a US federal judge recently blocked the project and ordered a new environmental review.
The survey found that almost a quarter of the companies surveyed reported that the number of jobs at their companies had declined since 2016.
Of the firms surveyed, 31% said that there was a 50% or more decrease in job prospects in the mining sector in the next five years.
More than half of the respondents reported that their business model had been negatively impacted by the US coal moratorium.
However, this survey also revealed that the majority of firms said that they were not investing in new technology, such as robots and artificial intelligence.
More:China’s coal ban has not helped the mining and mining industryAs part the Chinese coal moratorium, the US will stop importing coal from the country and instead will buy it from China.US coal prices are expected to fall by more than 50% in 2020, making it the most expensive commodity in the world.