China approves coal merger to create new mining giant

MINING WEEKLY | China has approved a merger of two coal miners to create a new giant in the world’s top producer and consumer of the fuel.

Yankuang Group’s merger with fellow miner Shandong Energy Group, which was announced in July, has been approved by authorities, a Hong Kong-listed unit of Yankuang said Friday in a filing.

Creation of the new firm, Shandong Energy Company, is among the latest steps by Beijing to concentrate coal production in large, efficient firms in an effort to better regulate and streamline the industry. Despite global efforts to stem use of the most polluting fuel, its abundance and low cost in China have put it on course to dominate its power sector for years to come.

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