China suspends new coal mine exploration rights

SteelOrbis Shanghai China's Ministry of Land and Resources recently issued its “Notification on Suspending the Approval of Coal Mine Exploration Rights”, stating that in the interests of avoiding surplus capacity in the coal industry, new applications for exploration rights shall be suspended for the period from February 2, 2007 to December 31, 2008. Commenting on the issue, a spokesman for the Ministry of Land and Resources stated that the aim of the new measure is to cool down heated investment in coal mine exploration and new mining developments, in order to control future coal production.