Submitted by: Submitted by sagarkale
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Category: Business and Industry
Date Submitted: 07/18/2014 04:11 AM
The global market for lignite mining is influenced by the increased need for energy and the rising prices of various energy production resources. Also, with the development taking place in the economies such as India and China, the demand for energy will rise, thereby, increasing the price of energy and its resources. This rise in price tends to shift the interest of industries towards other resources of energy. Recently, countries such as Germany has stopped its nuclear power generation business and switched to other electricity generating resources. AWE AG, a German electric utility company has ramped up coal use to generate electricity from lignite and, according to Bloomberg Businessweek; presently the firm generates about 52% of power in Germany. Henceforth, the global market for lignite mining is expected to grow with the rising energy prices and nuclear hazard concerns.
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Lignite coal is mostly used as a fuel, in steam to electric power generation units. The presence of high content of volatile matter makes it easier to convert coal into gases and liquid petroleum products. Moreover, lignite is more accessible than other coals as the location of lignite veins are relatively nearer to the surface. This eliminates the need of underground mining and the risk of carbon monoxide or methane buildup, which is a primary safety concern in underground mining. Due to low energy density and high moisture content, lignite is often burned in power plants, near to the mines. Lignite is a major source of electricity in many countries and also reduces the import liabilities of countries with large production capability. Renewable sources of energy are being promoted by government, but the proportion of coal in world’s energy basket is difficult to replace by renewable resources in near future, due to their high initial investment or lack of technologies with many countries....