Journal of the Korean Society of Mineral and Energy Resources Engineers ISSN:2288-0291(Print) 2288-2790(Online) 한국자원공학회지

The security of resources becomes more important than ever as major raw material prices increase rapidly, the upward trend in the prices continue and international oil prices soar. Bituminous coal is an important strategic mineral as it is used in wide area such as electricity generating, iron manufacturing as well as industrial purposes. South Korea is the world’s second largest importer of bituminous coal following Japan. Its import amounts of bituminous coal increase every year as international bituminous coal prices soar and domestic demands increase. In addition, its import rate of bituminous coal from self-developed mines is as low as 24%. To secure the stable bituminous coal procurement, it is needed to expand investment in overseas mining development projects and boost private companies to be actively involved in those projects. Also, it is needed to diversify imports away from Australia and China. This paper considers current international status of bituminous coal market, which includes: reserves; current status of production, consumption and trade; outlook of supply, demand and price; development status. This paper also analyzes current domestic status of Bituminous coal, which includes: current status of supply and demand; current status of overseas resources development; outlook of supply and demand; the ways to secure the stable Bituminous coal procurement.