MARKETS

New coal mining company established in Shaanxi

THE formation of The Binchang Coal Mine Development & Construction Co in Chinas Shaanxi Province ...

Staff Reporter

Over the next three years, some US$96 million will be invested in the development of the area with a targeted annual output of 8-10 million tons.

 

The development program of the Binchang area project has secured crucial State Development Planning Commission approval and the project is expected to be launched in October.

 

The company’s nine shareholders include Shaanxi Coal Transportation and Trade Group, the Shaanxi Coal Field Geological Bureau, the Tongchuan Mining Bureau, the Hancheng Mining Bureau, the Pubai Mining Bureau, the Chenghe Mining Bureau, the Huangling Mining Company, the Shaanxi Coal Construction Co., the Shaanxi Bin County Coal Company.

 

Interfax China Business News reported that three coal mines were already operating in the area under the project, with combined annual output of about 3 million tons.

 

One of the tasks expected of The Binchang Coal Mine Development will be to rationalise the utilisation of the area's coal resources more effectively and improve the structure of the province’s coal business.

 

According to Interfax China, Shaanxi province hosts 162.5 billion tons of verified coal reserves and could potentially generate 92.53 million tons of raw coal every year. The Binchang mining area contains 1.2 billion tons of coal reserves characterized by extra low-sulfur, low-phosphor, low-ash and high calorific value.

 

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production