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.
Authorities in Shanxi in northern China have ordered all non-coal mines in the province to halt production for safety inspections following an accident, the Xinhua official news agency said on Friday.
An iron mine in Shanxi was flooded on Thursday and trapped 13 miners.
The owners and managers of the firm operating the mine have been detained by police, Xinhua reported
China has been carrying out safety inspections at mines after several deadly accidents this year.
(By Min Zhang and Tom Daly)
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