China will close its only undersea coal mine in October, as the government expands its efforts to cut excess production capacity. The coal mine has been in operation since 1983.
Beizao coal mine is owned by Shandong Energy Longkou Mining Group in Lankou, Shandong province. China became only the fifth country to boast offshore exploitation technology in 2005.
The closure of the coal mine is part of a national plan to cut overcapacity. The mine, which covers an area of 18 square kilometers, has produced as much as 8 million tons of raw coal. Over the past 30-plus years, the mine gradually cut its annual production from 2.25 million tons to 1.3 million.
Though some 1,580 workers will be laid off when the mine is closed, the company has already formulated a plan to transfer these employees elsewhere.
