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Although coal deposits are widely dispersed, over 59% of the world's recoverable reserves are located in five of the Partner countries: the United States (27%), China (13%), India (10%), Australia (8.7%) and Canada (0.7%). In 2004, these five countries, taken together, produced about 65% of the world's coal. Partners also consume about 66% of the the world's coal - Japan and Korea are in fact the world's two largest coal importers. Japan imports 183 Mt and Korea imports 79 Mt for electricity generation and steel production per year. Coal produces 40% of the world's electricity, which is double the share of the next two largest sources (gas and hydro) and coal is an essential element in over 65% of the world's steel production processes. These proportions are expected to remain at similar levels over the next 30 years.
Coal is the world's most abundant and widely distributed fossil fuel. It is a globally-scoped industry that makes a significant economic contribution to the global economy. Coal is mined commercially in more than 50 countries and used for assorted purposes in more than 70. Annual world coal consumption is about 5,800 million short tons, of which about 75% is used for electricity production. This consumption is projected to nearly double by the year 2030 to meet the challenge of sustainable development and a growing demand for energy.
Coal consumption is in fact growing at a faster rate than consumption of any other fuel, rising by almost 5% in 2005 alone. As the most important fuel for electricity generation, cement manufacturing and paper making and a vital input into steel production, coal will have a major role to play in meeting future energy needs.
