Developing “clean coal” technology would help the coal sector in the US and China and prevent further job losses, according to US energy secretary Ernest Moniz.
Crashing prices for coal amid China’s economic slowdown and US investors’ preference for newer, less polluting energy technology has hit the industry hard in both countries.
Last week US coal group Peabody filed for bankruptcy under the weight of about $6bn in debt. Meanwhile, Beijing’s bid to shut down capacity and cut jobs in the sector last month prompted mass protests in China by coal workers from at least two big state-owned mines.
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