China reducing Coal Output after Prices Slumped
China reducing Coal Output after Prices Slumped
China is planning to reduce output in their largest coal producers after prices slumped, aiming to moderate economic growth and fight the worst pollution.
According to the China Coal Industry Association more than 70% of miners are unprofitable and half of them are delaying or cutting wage payments.
The government is worried about the current low coal price, concerning that it will cause a…
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