ME home
 
  SME FaceBook SME Twitter SME LinkedIn RSS Feed

Subscriber or
SME Member Log On

WEB-ONLY CONTENT

Go to SME eNEWS

MINING INDUSTRY EVENTS

Process Mineralogy 2018  - Conference
Nov 19, 2018 - Nov 21, 2018
Mine Ventilation in South America  - Conference
Nov 21, 2018 - Nov 22, 2018
7th Minex Eurasia  - Conference
Nov 22, 2018 - Nov 23, 2018
Mines and Technology London  - Conference
Nov 26, 2018 - Nov 29, 2018

METAL PRICES


Au
Ag
Pt
Pd
Ni
Cu
Al
Pb

AGGREGATES
AND MINERALS
MARKETPLACE


http://aggregatesmineralsmarketplace.com
The Mining Engineering, SME and NSSGA
Online Buyers Directory Site
The Online Global Mining and Minerals Library Site

China plans to shut down 4,300 coal mines
January 21, 2016

Looking to reduce its use of coal in its overall energy mix while also cutting smog and greenhouse gas emissions, China will China will allocate 30 billion yuan ($4.56 billion) in funds over the next three years to support the closure of small and inefficient coal mines and redeploy around 1 million workers, state media reported.

Reuters reported that China’s plan, which comes on the heels of an announcement that it would not approve new coal mines until at least 2019, is also looking to secure a soft landing for a sector that employs around 6 million people.

Total raw coal output in China fell 3.5 percent to 3.68 Gt last year, according to official data, the second annual decline in a row. Prices fell by about a third during the year, causing heavy losses in the industry.

The Economic Information Daily, a newspaper run by official news agency Xinhua, said that the National Development and Reform Commission, China’s state planning agency, is currently soliciting opinions from the industry ahead of the release of a plan to tackle chronic overcapacity in the coal sector.

It said China will aim to close 4,300 mines and cut annual production capacity by 700 million tonnes over the next three years.

The central government will also ban new mine approvals for the next three years, but the move is unlikely to make much of a dent in a production capacity surplus said to amount to more than 2 billion tonnes a year, over half the country's total output.

Despite the cuts, China still has about 11,000 coal mines in operation at the end of 2015 with a total capacity of 5.7 billion tonnes.

According to the National Energy Administration, coal consumption amounted to 64.4 percent of China's total energy mix in 2015, down 1.7 percentage points compared to the previous year. China aims to cut the rate to 62.6 percent this year.
 

Related article search:
 China    Coal