China’s coal spending boom contrasts with industrial slump
Mining News Pro - While China’s industrial sector crashes, one corner is booming. Oddly enough, it’s probably bad news for participants.
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Fixed-asset investment in mining increased 27.4% from a year earlier in July, continuing an extraordinary run this year that puts growth at the fastest pace in a decade. One commodity is likely to have dominated: Investments in mining and preparing coal have been growing at double-digit rates so far this year, in contrast to contractions in the other major mined commodity, ferrous metals.