||Tongxin coal mine thrives with transformation
Characterized by safety, eco-saving and efficiency, Tongxin Coal Mine produces 10 million tons of coal per year with only 1,000 miners. It has become a typical modern mine that resource-rich Shanxi is promoting.
Despite being faced with a depressed coal market, the mine affiliated to State-owned Datong Coal Mine Group Co., Ltd (Tongmei) has made a profit of 1.2 billion yuan ($192.61 million) in 2013 and 500 million yuan ($80.25 million) in the first four months of 2014. The development of Tongxin Coal Mine is part of the trend of transformation at coal mine enterprises in Shanxi province.
Compared with other coal mine enterprises confronted with the dilemma of resource exhaustion by decades of inefficient and energy-intensive operations, Tongxin Coal Mine uses modern equipment and has a high-quality and high-efficiency staff.
It started production in 2009 and all investment has been recouped.
With investments from GD Power Development Co., Ltd, the mine can share the benefits of joint operations with the power generation company.
And a circular production park in cooperation with another mine that has an annual production of 10 million tons ensures that a large amount of waste produced during the coal mining process could be recycled and electricity can be generated within one hour after the coal is mined.
In the first quarter of this year, thanks to its efforts in transforming the operation mode, Tongxin's parent company Tongmei has gotten considerable profits despite the big drop in coal prices, which is a good example for other Chinese mining enterprises.
With a history of more than 60 years, Tongmei has been implementing the strategy of coal-electricity integration in facing the increasingly fierce competition. Now it is building many 10-million-ton coal mines and has reached the capacity of producing more than 11 million kilowatts of electricity to become the top power enterprise in Shanxi.