Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Eleven people have died after an accident at a coal mine in China’s northeastern province of Heilongjiang, the latest in a spate of fatalities across the country despite efforts to improve safety.
An investigation into the incident in Shuangyashan city is ongoing, but it may be linked to a pressure bump or outburst, state-run broadcaster CCTV reported on Tuesday.
China has repeatedly pledged to cut the number of deaths in its mining industry and, while the number of fatalities have declined in recent years, a long line of accidents show how dangerous the sector remains. A fire in Shanxi earlier this month that killed 26 people prompted President Xi Jinping to call for the country to firmly prevent major accidents and ensure social stability.
Separately, coal mine explosions killed seven in Liaoning in June and 11 in Shaanxi in August. In February, a landslide at an open-pit mine in Inner Mongolia left 53 dead, the nation’s deadliest industrial disaster since 2019.
In response to the fatal accidents, China’s National Mine Safety Administration said in mid-September it would amend laws and step up enforcement to eradicate illegal and excessive mining activities.
(By Evelyn Yu)
Read More: China shifts approach to fatal coal mining accidents to ensure supply security
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