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China aims to create 10 “mega” coal producers by the end of the decade as part of its drive to consolidate the industry and tackle overcapacity, the official China Daily reported on Friday, citing an energy official.
Wang Xiaolin, deputy director of the National Energy Administration, said China was preparing guidelines to create 10 new industry giants each with annual production capacity of over 100 million tonnes. It said China already has six firms with production capacity above 100 mt.
According to the China Coal Trade and Distribution Association, the guidelines will compel coal mining regions to consolidate smaller mines over the next two years.
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