China is planning to increase coal imports from Russia while lending a $6bn loan to the country as part of an agreement signed at the end of August.

China will receive about 15 million tons annually in the next five years and over 20 million tons in the following 20 years.

Russia will use the loan to fund domestic coal producers to increase supplies to China, procure mining equipment and build coal transportation links, reports Bloomberg.

The agreement will also enable the countries to establish joint ventures to develop coal resources in Russia and conduct research on coal-to-liquids technology.