China to close thousands more coal mines

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China is reportedly set to close 4300 coal mines over the next three years.

It comes on the back of the nation’s decision to halt all new coal mine approvals for the next three years in a bid to address its growing coal stockpiles.

This new announcement to close 4300 coal mines follows an earlier announcement to shut down 1000 small and illegal coal mines across four provinces.

The Shanghai Daily reports the government’s decision to close 4300 coal mines overall, slash existing production capacities of 700 million tonnes, and relocate approximately one million workers.

Approximately 30 billion yuan ($6.5 billion) has been earmarked by the government to aid in the relocation efforts.

Over the last five years China has removed around 560 million tonnes of production, and close 7250 coal mines across the nation.

It is understood the country had approximately 11,000 coal mines in operation as of December last year, of which around 9600 were legal mines.