BEIJING (Commodity Online): China may be able trim the number of operating mines to around 4,000 by 2013 end according to Caterpillar (NYSE: CAT) and a study by Mines Control & Conservation of Minerals Division (MCCM).
China would allow the mines to operate only if it can achieve a minimum production of 300,000 tons per annum. The fewer allowed mines would be able produce huge volume meeting the countries requirement.
The trimming of mines would help the government to regulate the mine efficiently, reduce environmental problems and also will be able to reduce accidents at mines.
China accounts for more than 80% of the deaths in coal mine accidents around the globe.
With these initiatives of the government, the mining equipment manufacturer finds large opportunities in the mining sector to introduce new technologies for exploration, transportation and processing.
More than half of the world reserves are in china.
In 2004, china had around 25,000 operating mines and by 2013 end, the number to get down to 4,000.
