CHINA China's top economic planner approves coal mine project

CHINA

China's top economic planner approves coal mine project

Xinhua

15:09, October 17, 2020

BEIJING, Oct. 17 (Xinhua) -- China's top economic planner has approved a coal mine construction project in the city of Yulin, northwest China's Shaanxi Province.

File photo: CFP

The project's investment totaled 6.5 billion yuan (about 965.36 million US dollars), according to a statement on the website of the National Development and Reform Commission.

Shaanxi Energy Zhaoshipan Coal and Electricity Co., the coal owner, will provide 1.97 billion yuan, or about 30 percent of the total investment. The remaining capital will come from bank loans.

Once built, the project is expected to produce 6 million tonnes of coal per year, the statement said.

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