USD 63.129

+0.15

EUR 70.635

-0.02

BRENT 64.02

+0.02

AI-92 42.25

0

AI-95 45.75

0

AI-98 51.34

0

Diesel 46.16

0

10

Giant Coalfield Discovered

A giant coalfield with a proven reserve of 500 million tons was discovered in...

A giant coalfield with a proven reserve of 500 million tons was discovered in northern China's Inner Mongolia Autonomous Region. Seismographic and geological data showed that there is a 20-km-long and 5-km-wide coal seam covering more than 100 sq km in the area of Otog Banner.

An exploitation project with a designed yearly output of 250,000 tons is under construction there, with an investment of 18 million yuan (about 2.1 million US dollars) from the local Xinyuan Coal Exploitation Co. Ltd.

Besides this project, which is scheduled for completion in August this year, the local government plans to increase its total coal output each year to 20 million tons, with a production value of one billion yuan by 2005.