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Interfax China Business News reported the Xuzhou Mining Business Group subsidiary Pangzhuang Coalmine recently signed a contract with the local government of Huating County to jointly develop coal reserves.
Exploration into 15 coal reserves in the provinces of Henan, Gansu and Shanxi by Pangzhuang Coalmine found the Huating reserve to be the most viable for mining.
Interfax China said the proposed mine had a lifespan of more than forty years and would have a raw coal output of 210,000 tons per year.
The Pangzhuang Coalmine and the local government will set up the Huating Xu Long Coal Industrial Company to run the project.
