Jincheng Anthracite Mining Group to Build 4 Million-Metric-Ton Longwan Coal Mine in Yangcheng County

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Researched by Industrial Info Resources (Sugar Land, Texas)--At a recent meeting in China's Shanxi province, Jincheng Anthracite Mining Group Company Limited (Jincheng, Shanxi) reached an agreement with the Yangcheng County regarding the cooperative development of Longwan Coal Mine.

Huanglongshan and Laolongwan are two backbone underground mining fields planned in the 10th Five-Year Plan of Yangcheng County. However, due to several restricting factors, these two mining fields are not developed. According to the agreement, Jincheng Group will act as the investor to build the 4 million-metric-ton Longwan Coal Mine by integrating resources in Huanglongshan and Laolongwan, as well as their surrounding areas.

The construction of the Longwan Coal Mine is an important action in the company's strategic deployment and a strong support to local economic development, according to Feng Zhiliang, the governor of Yangcheng County.

Jincheng Group, a leading coal-mining enterprise, is the largest coal-chemical enterprise group and the largest coal-bed methane utilization base in China. In 2009, Jincheng Group's coal output reached 50 million metric tons; production capacity of ammonia and urea reached 12 million metric tons and 10 million metric tons, respectively; and the production capacity of coal-bed methane reached 1.2 billion cubic meters. In 2009, the company's production value reached nearly $8 billion, with a net profit of $640 million, ranking it at 132 among the top 500 Chinese enterprises. According to the strategic planning, the coal output of Jincheng Group will reach 100 million metric tons, with annual production value doubled to $16 billion by the end of the 12th Five-Year Plan (2011-15).

In addition to the current cooperation, Jincheng Group has established a long-term partnership with Yangcheng County in a broad scope, including the cooperative construction of a chemical fertilizer manufacturer with annual output of 180,000 metric tons of synthetic ammonium and 300,000 metric tons of urea commissioned at the end of 2009, and a 270-MW coal gangue comprehensive utilization cogeneration power plant, which is under construction.

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