According to the International Energy Agency (IEA), global approvals for coal power plants surged in 2024, reaching their highest level since 2015, driven by demand in China and India. In China alone, construction began on approximately 100 gigawatts of new coal plants during the year. According to a new report from Wood Mackenzie, global coal demand may remain stronger for longer than anticipated through 2030.
The Trump administration yesterday announced details on its trade agreement with Indonesia, prominently featuring the role Indonesia's minerals will play in the deal. Inside the deal, U.S. exports to Indonesia will face zero tariffs, and the U.S. will levy 19% tariffs on Indonesian goods entering the U.S. under the deal. The Southeast Asian nation is one of the world's top producers of copper, cobalt and nickel.
And Graphite One announced that it has entered into a Memorandum of Understanding with EV maker Lucid Group for supply chain offtake agreements for both synthetic and natural graphite. According to the press release, the announcement is part of the formation of a group called the Minerals for National Automotive Competitiveness—a collaborative aimed at fostering economic growth while reducing U.S. over-reliance on foreign supplies of critical minerals within the automotive supply chain. No further details on this group were available, but it's something we'll be watching.
That's your mining minute for this morning, highlighting some of the mining-related matters that are on our minds here in Washington and beyond. Follow us on the National Mining Association's channels, as well as on Minerals Make Life and Count on Coal, for more on the latest news and policies impacting mining.
