In the wake of the war, Europe is weaning off Russian coal and turning to Colombia and a host of other countries from South Africa to Australia with an urgent appeal: Sell us more coal. Tópaga, Colombia-The people of this coal-mining hamlet say they grasp little about Russia's invasion of Ukraine. But they do know it has translated into boom times for them
The European Union embargo on Russian coal imports
- Importers are racing to wean themselves off of coal that Russia is the main supplier of power generation.
- Germany has been buying from Australia, the world's second-largest exporter of thermal coal used to generate electricity, despite pledges by many countries to reduce their coal consumption to combat climate change.
The rise in coal prices has brought the long-abandoned mine back to life.
- Colombia shipped almost four times as much coal to Germany from March through May as it did in those three months the year before
- The U.S., too, is ramping up, with shipments to Germany increasing by more than 10% over the same period
- Indonesia, the world's top exporter of thermal coal, has seen opportunities in shipping more coal to Europe
The fast rise in coal prices brought back to life the long-abandoned mine called El Diamante-the Diamond in Colombia
- The mines that dot the mountains here are small family-run businesses that in the past just sold coal locally.
- Now, middlemen who buy the coal redirect the fossil fuel for export.
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