China is planning several major coal-group mergers and acquisitions (M&As) by 2020, the country's top economic planner said Friday.
The government will support M&As among coal firms of different scales, regions and ownerships and encourage market players to expand business from coal production to services, according to the guidelines released by the National Development and Reform Commission (NDRC) and 11 other government agencies.
Coal firms are also encouraged to conduct M&As with players in related sectors, including power, coal, chemicals and steel, to fully integrate their resources in the wider industrial chain.
The efforts aim to push the reduction of excess coal capacity, upgrade technology, improve resources allocation and production safety.
Chinese leading power generator China Guodian Corporation and coal miner Shenhua Group last November merged into energy conglomerate China Energy Corporation, making it the world's largest company in coal mining, thermal power, renewable energy and coal-to-liquid conversion.
By the end of last year, the number of coal mines in China dropped to about 7,000, from 10,800 in 2015, according to the NDRC.
About CHINA MINING
Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
CHINA MINING Congress and Expo 2018 will be held at Meijiang Convention and Exhibition Center in Tianjin in September 20-22, 2017. We invite you to join the event and to celebrate the 20th anniversary of CHINA MINING with us. For more information about CHINA MINING 2018, please visit: m.balanzskin.com.
