By Giles Gwinnett

June 14, 2017 - The latest resident at the White House has made big noises about reviving the US coal mining industry but it looks like it will be an uphill battle.

New figures today from the latest annual BP statistical Review of World Energy show production is slumping, with production around the globe falling over 6% last year.

It comes as users increasingly turn to greener fuels, and  in the US, fracking for gas has also seen a big boom, sidelining traditional coal mining.

Second Straight Year of Demand Decline

This is the second straight year that coal demand has declined. Production at US coal mines fell by a whopping 19%.

Meanwhile, coal production fell by nearly 8% in powerhouse China - and has been declining for three years now as the country's economic boom and construction growth wanes

In addition, China's decreasing reliance on coal, plus the fact it has invested heavily in renewable energy  mean it is now being seen as a global leader on climate change, after Trump took the US out of the Paris agreement.

To put the coal decline in some kind of context, it is worth noting that coal was the largest source of energy demand growth until just four years ago,  the BP report showed.

Wind, solar and other renewable power sources grew faster than any other type of fuel at more than 14% in 2016.

However, general energy demand growth across the globe was weak last year at only 1%, almost half the 10-year average, with nearly all the growth coming from developing countries.

At a corporate level, you don't have to look far to see where the coal declines is impacting board room decisions.

A potential bidding war has begun for Rio Tinto's Australian coal business.

Yesterday, Chinese miner Yanzhou Coal Mining Co told investors that its $2.45bn deal to buy a large part of the business had received regulatory approvals from Chinese authorities.

Coal & Allied includes Rio's massive operation in Australia's Hunter Valley and its Mount Thorley Warkworth mines, producing thermal coal, used in power generation.

On Friday, commodity behemoth Glencore threw its hat in the ring with  a $2.5 billion  counter bid, which is reportedly fully financed.

If successful, Glencore has said it would explore selling up to a 50% stake in the business and look to sell other of its coal assets.