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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (37569)	5/24/2009 12:21:23 PM
From: LoneClone	Read Replies (1) \| Respond to of 195164

Kailuan Group plans 50 million tonne coal reserve base Sunday, 24 May 2009 steelguru.com Reuters reported that Chinese coal miner Kailuan Group plans to build a coal reserve base on the northeast coast to store 50 million tonnes of the fossil fuel. The world's largest coal consumer and producer has plans to set up four to 6 coal reserve bases, each with a storage capacity of more than 20 million tonnes, in eastern shandong province to help cope with future supply shocks. Mr Li Min vice-president of Kailuan Group said that the base planned by Kailuan would be located in the Caofeidian area of Hebei province and would cost an estimated CNY 2 billion. He said that the project needed government approval. The state-run coal mining group is the parent of Kailuan Clean Coal Company.