Datong is reaching toward its '1558' goal to come up with a complete recycling economic model

08:33, November 18, 2010      

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One of the participants at the 12th China Mining Congress & Expo, Nov 16 to 18, is the State-owned Datong Coal Mine Group, which has big designs on the global mining industry, and ideas about improving its name and strengthening ties.

The congress is the biggest mining event in Asia and one of the four main mining congresses in the world.

Datong Coal revealed its goals recently: to produce and sell 200 million tons of coal and increase sales to 100 million yuan.

It also plans to build five industrial parks that bring in revenues of 10 billion yuan and increase profits and employee wages to four times what they are now.

Its business now is dominated by coal but that will change to multiple industries backed by high-tech approaches.

The traditional management system will be replaced with modern management, while corporate culture, another concern will be improved to better connect the staff.

Datong Coal is also making an effort in reaching the "1558" goal, a recycling economic model. The "1" stands for building a nation-wide coalmine base.

The first "5" is developing a business based on five industrial chains: coal-electricity and construction materials; coal-electricity-chemicals; coal-steel-mechanics; coal-electricity-aluminum; and coal-electricity-silicon.

The second "5" refers to five industrial parks.

The "8" indicates the ambition to build a recycling economy network. This in turn is based on eight industries: coal, electricity, coal chemicals, metallurgy, mechanics, construction materials, tourism, and solar energy.

By the end of the 12th Five-Year Plan period (2011-2015), revenues from the recycling economy are expected to surpass 100 billion yuan, accounting for over 60 percent of the group's total revenues.

Datong Coal also hopes to enter China's top 500 companies list, and even become a world-famous energy group during the 12th Five-Year plan period.

After 60 years of development, Datong Coal has accumulated a lot of experience in training and managing workers and handling social relationships. It is starting over from a relatively high point in matters of size, number of people, production capacity, and image.

Wu Yongping, board chairman of the Datong Coal, believes that it is responsible for the nation's energy supply and security: "As a forerunner in the field in China, the group has to become more and more powerful.

"Surpass ourselves and build a bigger and better Datong Coal - this is our goal," he said.

Source:China Daily


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