TEMPO.CO, Jakarta - The world's coal prices closed higher at US$ 100.55 per ton in yesterday's trading. As quoted from Trading Economics, the price rose by 1.35 percent compared to the previous day's trading.
This achievement is the highest since last March. Previously, for about two consecutive months, the price of the mineral stagnated below US$ 100 per ton. Although it touched a price above US$ 100 per ton, the price is still down if calculated year to date in the range of 20 percent.
Quoting analysis from engineeringnews.co.za, the increase in coal prices is driven by increased demand from several countries in the African region. One of them is South Africa, which is committed to using coal as part of its energy mix, despite facing international pressure to reduce dependence on fossil energy sources.
Currently, more than 80 percent of the country's electricity still comes from coal, and the government plans to maintain coal-fired power plants until 2050. On the other hand, as part of the transition to renewable energy, South Africa plans to build a new transmission line of 1,164 kilometers in 2026.
This line aims to connect renewable energy projects with the national electricity grid, as well as overcome obstacles that have so far prevented these projects from operating optimally. However, this project faces major challenges in terms of funding, with investment needs reaching US$ 21 billion for the expansion of the network, which is crucial for the success of the green energy transition.
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