China to accelerates small mine closures (Reuters) Updated: 2010-09-17 13:16
China will accelerate closures of small coal mines to ensure their number is reduced to less than 10,000 by the end of this year, officials with the National Energy Administration (NEA) were quoted as saying by state media.
China aims to shut down 1,539 small coal mines with a total production capacity of 121.67 million tonnes this year. It had closed 1,259 mines and 112.96 million tonnes of capacity as of mid-September, according to a report by the China Securities Journal on Friday.
We will speed up work to ensure this year's target is reached, Wu Yin, NEA deputy administrator, was quoted as saying by the newspaper.
The government would take a series of measures aimed at cutting the number of small coal mines to less than 10,000 by the end of the year, Wang Yihui, an official with the NEA's coal department, told state broadcaster China National Radio.
China, the world's largest coal producer and consumer, is consolidating its massive coal sector by merging large miners and eliminating small players with obsolete production capacity to improve efficiency and safety records.
Coal mine accidents occur frequently in China, with 2,631 people killed last year.
CCC Price at posting:
61.0¢ Sentiment: Buy Disclosure: Held
