Anyuan Coal unit invests $16.7m in new mining firm

Anyuan Coal Industry Group announced that its wholly-owned subsidiary, Jiangxi Coal Industry Group, will establish Jiangxi Luoshi Mining Co., Ltd. with a registered capital of RMB 120 million (approximately $16.7 million USD). The new company will focus on coal mining, washing, and sales, as well as providing information technology consulting and labor services. Jiangxi Luoshi Mining will be a restructuring of the Xinluo Coal Mine, including the Shanxi Coal Mine and Liusha Coal Mine. As of the end of 2023, Shanxi Coal Mine had proven reserves of 1,041,670 tonnes with an approved production capacity of 330,000 tonnes per year, while Liusha Coal Mine had reserves of 1,597,830 tonnes and a capacity of 300,000 tonnes per year. The investment aims to enhance the company's core competitiveness and promote sustainable development.