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Jiangsu to cut nearly half coal capacity in 3-5 yrs

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Publish time: 24th March, 2016      Source: www.cnchemicals.com
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Eastern China’s Jiangsu province targeted to shut 47.7% of its coal capacity in 3-5 years in response to the national call of overcapacity elimination, according to a statement released by the provincial Development and Reform Commission.According to the country’s elimination standards, the province could keep all its mines. But given the low production capacity, long-term losses and poor safety conditions in some mines, the provincial government decided to guide the orderly exit of 14 coal mines from five enterprises by offering policy support.Of this, eight mines under three local enterprises – owned by the prefecture and lower-level governments – account for 8.36 Mtpa of the total shut capacity; and that of the six mines under the rest two state-run enterprises was at 3.46 Mtpa.Jiangsu will close 11 coal mines with combined capacity of 10.16 Mtpa in 2016, two mines with 0.46 Mtpa capacity in 2018, and one mine with 1.2 Mtpa capacity in 2020.By end-2015, total coal production capacity of the province’s 20 mines in six coal enterprises was 24.77 Mtpa, including 18 mines that in normal operation with capacity at 21.82 Mtpa, and the rest two halted mines taking 2.95 Mtpa capacity.CCR cordially invites you to participate in the 6th Global Coking Coal Resource & Market Summit to be held from 24th to 25th March 2016 in Taiyuan, Shanxi Province. The summit will provide professional insights on great changes that will impact market players over the mid and long term and how they should cement their positions in the market. For more details, please contact Gina Cao at +86 351 7219322 / gina.cao@fwenergy.com or click HERE.