Tuesday, September 21, 2010

China resorts to blackouts in pursuit of energy efficiency

Reading the following story one has to wonder when, like South Africa, this will impact on China's mining industry. With China being the world's largest gold producer and a major player in the smelting of metals will this in time affect the supply side of gold and silver?

From the UK Gaurdian:

No TV. No internet. No air conditioning. Traffic lights off. Hospitals deprived of electricity. Tens of thousands of household fridges and freezers without power. Milk curdling. Vegetables rotting. The risks of delaying energy-saving measures have been all too apparent in a Chinese region where the authorities initiated draconian rationing last month to achieve the state's efficiency targets.

Anping County, in Hebei Province, cut electricity to homes, factories and public buildings for 22 hours every three days in a radical move that has highlighted both the serious last-minute effort that China is making to achieve environmental goals and the immense long-term difficulty of shifting away from a dirty, wasteful model of economic growth.

There are less than four months left until the end of China's current five-year plan, during which the economy is supposed to have become 20% more energy efficient. That target (which measures energy use relative to GDP growth) is crucial for a nation that wants to move up the economic value chain and prove to the world that it is making a significant contribution toward tackling greenhouse gas emissions......read on

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