China copper smelters plan to cut output after margins fall
The output cuts underscore the industry’s struggle with a shortage of feedstocks caused by recent mine production setbacks.
March 13 (Reuters) – China’s state planner said on Tuesday it has given approval for a coal mine to be built in Inner Mongolia.
The mine will have an annual capacity of 6 million tonnes a year with total investment at 3.4 billion yuan ($537.84 million).
The state planner said it has also given the go ahead for two other new open-pit coal mines in Xinjiang province to be built.
The two coal mines in Xinjiang will have total capacity of 13 million tonnes per year and be worth a combined 4.1 billion yuan.
($1 = 6.3216 Chinese yuan renminbi)
(Reporting by Hong Kong newsroom)
