Coal mines that fail to meet safety measures or operational standards will be ordered to close and rectify violations, the State Administration of Work Safety said.
Company's shares fell as much as 5.5% on the news that the Indian Supreme Court had cancelled all the 88 existing iron ore mining licences in the Indian coastal state of Goa.
"Keep an eye on what we call China’s old economy – the property market, the infrastructure segment. That’s where we expect a slowdown sometime this year.”