Hong Kong, Hong Kong S.A.R., October 09, 2018 --(PR.com
)-- On a crisp morning in China's central Shaanxi province Peter Björnson, chief executive officer of Hong Kong based Earth Energy International Holdings, seals a ground breaking JV partnership to collaborate with mainland producer Shaanxi Noble Power to develop and operate a multi-million ton bituminous mine coming on line in the 1st quarter 2019.
Earth Energy International's COO Mike Weber said, "Both the EIA and the IEA forecast coal-fired electricity will dominate China's energy supply for another 15 to 20 years, and over that same time Chinese electrical demand will grow over 50%. Knowing that we're going to be using a lot of coal-fired power over the next couple of decades means it's important for the planet that we the close the older, less efficient mines and power plants and invest in modern, 'Clean-Coal' power plants with CCS technologies, and state of the art upstream developments like our PerfectLight North joint venture. We're lowering emissions across the board. Some of the power plants here are already cleaner than natural gas."
"Due to government subsidies expiring for renewable energy and it's unreliability issues coal is here to stay for the foreseeable future. At the same time we've got a big investment push to clean up coal, closing older projects, and all this during a time of rapid electrical demand growth thanks to more use of mobile devices, electric vehicles and a swelling middle class. It all points to a robust demand for our product and sturdy prices."
The PerfectLight #North (PLN) JV enjoys numerous benefits:
• A notably established 16 year history in the PerfectLight coal fields, part of the illustrious Three Earth Sovereigns coal fields of Yu jia liang, Sha gou pen and Huo ji tu, Shaanxi province.
• PLNs' rigorous evaluation demonstrates it will produce an approximate 1.1m tpa of net material over a 10 year period.
• By leveraging local labor, deploying modern production techniques and initiatives, in-line management and compressing margins the project will operate at some of the most competitive levels industry-wide.
"We are convinced of the value creation for stakeholders and partners in our coal assets for the next 15 years. It's an often over-looked yet integral energy commodity," stated Peter Björnson. "Any way you look at it a lot more electricity is going to needed to satisfy demand. The central government have invested world-record amounts in renewables but with reliability and scale issues there, investment and safety issues in nuclear and supply issues in natural gas the onus is back on living with coal, and we're doing our bit to clean it up."
EEI Holdings was originally founded as an energy consultancy. Our business has matured into a significant stakeholder and proprietary platform for the financing of modern energy and mineral mining joint ventures throughout three continents. Our strong regional roots complement an evolved, progressive and synergized approach to sustainability and twenty first century management techniques, providing local partner companies with expertise and insight into vital aspects of today's energy and raw materials exploration and development.
To communicate contact www.eeiholdings.com.