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.
Twenty-eight Chinese coal miners were killed on Saturday afternoon, reports Xinhua.
The Taozigou coal mine is unauthorized according to officials. It’s located in China’s Sichuan Province, Luxian County and in the city of Luzhou.
At the time of the accident there were 108 miners working underground, many of whom had to be rescued.
The deputy governor of Sichuan, Liu Jie, said the mine should be shut down and all coal mining in the province should be suspended pending a review.
He added there will be an investigation and the owners will be held accountable.
