China is in the grip of a power crunch as a shortage of coal supplies, toughening emissions standards and strong demand from manufacturers and industry have pushed coal prices to record highs.

President Xi Jinping’s promise to end China’s financing of overseas coal-fired power plants should be seen as a first step rather than a major effort to mitigate climate change.

The concept will be revised and will not be introduced at least until 2023.

The company confirmed first production at QB2 is expected in the second half of 2022.

The proposal was being considered only for a very small number of companies.

Company is turning its attention to minerals such as copper and manganese.