Inner Mongolia eases rules on coal firms
September 4, 2014 Category Automotive Metals & Minerals, Minerals
China’s top coal-producing region Inner Mongolia said that coal miners no longer need local government approval for corporate transfers or for merger and acquisition (M&A) deals. Coal miners are being encouraged to restructure their businesses and get involved in upstream and downstream industries including electric power, chemicals and building materials. The coal mining sector has been hit hard by high transportation costs. The low calorific content of the region’s coal has also made it less competitive. As of April 30, one-third of the mines in the region, most of which were small, had shut down or suspended production, according to the Inner Mongolia Coal Mine Safety Bureau. The province’s coal output slid nearly 10% year-on-year to 302.74 million metric tons during the first four months. Administrative and environmental fees were suspended or reduced.
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