4 Traders reported that heavily indebted Russian coal and steel producer, OAO Mechel has resumed work at 3 mines at its Bluestone facility in West Virginia, the company said that Wednesday April 17thin its annual report.
The company which had temporarily idled the Bluestone mines late last year due to oversupply and poor market conditions said that it has resumed underground operations at Keystone’s Mine 65 in March and at Pochahontas No 11 Contour and Auger No 2 this month.
In January, the company restarted work at surface mines Justice Energy and Dynamic Energy. The 2 complexes produce some 135,000 tonne of coal a month.
The company reported this week that it had net debts of USD 9.4 billion as of December 31st 2012.
Source – 4 Traders
China Daily reported that the Hebei provincial government has sped up the process of closing down outmoded production facilities in the coalmining industry and has reached the national goal in advance by 3 years.
Hebei province work safety authorities said that. Another 37 coal mines were shut down in 2012, cutting the outdated capacity by 2.3 million tonne or about 4 times the State government quota according to the Hebei work safety administration.
In the past 2 years, the province has shut down about 166 outdated coal mines reaching its goal of the 12th 5 year plan in shutting down unqualified coal mines 3 years ahead of time. Meanwhile major energy enterprises, such as the Kailuan Groups and Jizhong Energy Group have been taking steps since 2011 to integrate 150 mines and the Zhangjiakou and Handan governments have sent hundreds of officials to oversee the shut down.
In addition the province has looked for ways to improve coalmine management for the prevention of mine flooding and reducing the amount of illegal construction and mining. All existing mines will be expected to finish their safe engineering improvements in 3 months. By the end of 2013, there will be 5 pilot mines with high flooding-prevention standards and at least 20 mines at Safetylevel 1.
Source – www.chinadaily.com.cn