Shan Xi Hua Yang Group New Energy to Establish Branch for Coal Mine in Shanxi, China
Shan Xi Hua Yang Group New Energy (SHA:600348) plans to establish a branch to develop the Yujiazhuang mine field in Shanxi, China.The mine holds 624 million tons of coal reserves across 73.2 square kilometers, with a designed annual capacity of 5 million tons over a 51-year service life, according to a Tuesday filing with the Shanghai bourse.The new branch will handle permits, construction, production and operations.Shares of the coal producer declined 2% in recent trade.