Based on the events of 2009, we are more convinced than ever that mining will
enjoy strong growth over the long term. If there was ever doubt about the impact
of the emerging markets, it was resolved as China single-handedly mitigated the depth, duration and severity of the global economic recession. Numerous studies consistently report that over two thirds of future global electricity generating capacity will be built in developing nations, and this capacity will be coal-fired because of abundant local supplies. As a result, coal must be viewed as a critical, indispensable global fuel source and the deployment of carbon capture and storage must be supported as an enabling technology for the achievement of climate change objectives.