Yankuang Group subsidiary Shenzhen YanFeng Coal Company this week formed a joint venture with Biosphere Development Corp, a subsidiary of Global Environmental Energy Corp.
The Biosphere Process System will increase profits at the eight mines by about 25%, and allow them to operate in compliance with current environmental regulations as dictated by the State Environmental Protection Administration.
By using Biosphere Systems, each mine can generate its own electricity from mine waste as opposed to diesel fuel, which currently costs $US300/MW. Surplus energy can be sold to local domestic and industrial clients.
The eight mines are expected to produce about 23.75 million tonnes of coal a year, with a market value of about $US24 per tonne. The Biosphere Process System is capable of producing about 2.3 million megawatt-hours of electricity per year from the waste materials with a tax-free sales value of approximately $US60/MW.
