More than 1,000 coal mines to be closed

China Daily (Canada) - - NEWS CAPSULE -

China will close more than 1,000 coal mines this year, with a to­tal pro­duc­tion ca­pac­ity of 60 mil­lion met­ric tons, as part of its plan to tackle a price-sap­ping sup­ply glut in the sec­tor, the coun­try’s en­ergy reg­u­la­tor said.

In a no­tice posted on its web­site, the Na­tional En­ergy Ad­min­is­tra­tion said the clo­sures would form part of the plan re­leased ear­lier this month to shut as much as 500 mil­lion tons of sur­plus pro­duc­tion ca­pac­ity within the next three to five years.

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