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Home >> Business
UPDATED: 09:05, November 23, 2005
More Chinese officials relinquish stakes in coal mines
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A total of 947 officials and state-owned enterprise (SOE) leaders have abandoned their personal stakes in coal mines in north China's Shanxi province, the country's flagship coal production base.

The stake withdrawal, worth more than 156 million yuan (nearly 20 million US dollars) total, was made amid a nationwide crackdown on illegal coal mine investment by officials.

China issued a circular on Aug. 30 requiring all officials and SOE leaders with coal mine investments to withdraw their stakes, and setting Sept. 22 as the deadline.

In Shanxi, 99 percent of personal stakes by officials and SOE leaders have been dropped. Twelve officials received discipline penalties with seven of them removed from their posts.

The investigation of major mining fatalities in the country suggested that some officials are collaborating with private mine owners to profit from illegal or excessive mining.

Source: Xinhua

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