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Iron ore mine on suspension for accident coverups
By Li Xinran |
September 18, 2010, Saturday
|
Print Edition
Print Edition
AN iron ore mine in the northeastern province of Heilongjiang has been forced to suspend operations for covering up fatal accidents and making ownership changes that were a drain on state-owned property.
The mining authority in Heilongjiang's Xunke County told Economic Information that the Cuihongshan iron ore mine had its production suspended.
Media reports have said the mine was worth at least 100 billion yuan (US$14.8 billion).
But it was sold in June for only 300 million yuan to Xilin Iron and Steel Group, based in Heilongjiang's Yichun City.
The operator of the coal mine is also suspected of operating without a license between 2006 and last year.
The Cuihongshan mine was given a mining license last June, said Miao Qingyuan, chairman of Xilin group.
But the mine, it has been discovered, was producing when accidents occurred on May 9 and 11 last year involving three deaths.
Miao was fined 60,000 yuan for hiding the truth and was identified as the official who was responsible.
However, a government report on the accidents didn't mention a word about the mine being unlicensed.
Miao cited a deal signed in 2005 gave the Xilin group 97.5 percent of shares of the Cuihongshan mining company. Miao said the deal was introduced by the Heilongjiang government.
However, the provincial watchdog over state-owned assets informed Economic Information that the Xilin group had never acquired the license for mining exploration at the Cuihongshan mine and had nothing to do with its ownership.
The Cuihongshan mine was discovered to contain 150 million tons of iron ore and nonferrous metals, worth 100 billion yuan based on the market price of 2005.
The mining authority in Heilongjiang's Xunke County told Economic Information that the Cuihongshan iron ore mine had its production suspended.
Media reports have said the mine was worth at least 100 billion yuan (US$14.8 billion).
But it was sold in June for only 300 million yuan to Xilin Iron and Steel Group, based in Heilongjiang's Yichun City.
The operator of the coal mine is also suspected of operating without a license between 2006 and last year.
The Cuihongshan mine was given a mining license last June, said Miao Qingyuan, chairman of Xilin group.
But the mine, it has been discovered, was producing when accidents occurred on May 9 and 11 last year involving three deaths.
Miao was fined 60,000 yuan for hiding the truth and was identified as the official who was responsible.
However, a government report on the accidents didn't mention a word about the mine being unlicensed.
Miao cited a deal signed in 2005 gave the Xilin group 97.5 percent of shares of the Cuihongshan mining company. Miao said the deal was introduced by the Heilongjiang government.
However, the provincial watchdog over state-owned assets informed Economic Information that the Xilin group had never acquired the license for mining exploration at the Cuihongshan mine and had nothing to do with its ownership.
The Cuihongshan mine was discovered to contain 150 million tons of iron ore and nonferrous metals, worth 100 billion yuan based on the market price of 2005.
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