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Thanks to the large-scale development of clean energy, especially solar and wind power, consumption of fossil fuels is expected to decrease by 3.15 billion ton standard coals during the 2030-60 period, Dai said.

Indonesian state-owned coal producer Bukit Asam has raised its 2023 output target to 40mn t.

Uncertainty over international thermal coal prices continues to weigh on Vietnam's coal import outlook, but the country's economic growth momentum is supporting coal demand despite its move to enter a $15.5bn energy transition pact.

Coronado joins a number of mining firms in Australia that have cut production guidance this year.

Coal inventories at Indonesian coal-fired power plants are currently ample, according to state-owned utility PLN.

There's been a peak in terms of the investment cycle over the last 30 or 40 years as the coal business internationally has gone through an expansion in various places.

Australian longwall and safety protocols will constrain UK-South African mining firm Anglo American's metallurgical coal production, leading it to cut its guidance for 2022, 2023 and 2024.

The deal is expected to be announced later on Wednesday on the sidelines of a summit of EU and Southeast Asian leaders in Brussels.