China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
Accidents at two of China’s coal mines in the past few days killed two workers while 14 people went missing, according to state media reports.
One accident happened Friday in central China’s Henan province and the other occurred Saturday in northeast Heilongjiang province. The rescue work is under way, Xinhua and CCTV reported.
The latest accidents add to a spate of deadly mining incidents in China this year despite the country’s escalating push to rein in cryptocurrency mining, which is deemed a key factor behind rising demand for coal in certain parts of China.
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