It is reported that Taiyuan Iron & Steel Company has decided to set up an energy subsidiary, named Shanxi Taigang Energy Co Ltd focusing on coal prospect ion sintering & dressing, coal bed gas development and etc. The plan has already been approved by the company board.

The company has been granted the 10 billion tonnes of prime coking coal deposit in Lvliang, the biggest coal filed detected so far in China. It is estimated that the coal mine would bring an annual profit of CNY 3 billion after starting production.

The coal mine would supply low-cost coking coal for Taiyuan Stainless, and help beef up its competitiveness in coming years.

(Sourced from MySteel.net)