Longmay Group in China Reducing Headcount at Mining Operations

Di Wang from CRU Group reports on the September 2015 announcement that Longmay Group in China is reducing headcount of coal mining operations by 100,000 people through the end of this year. This will be achieved by closing older mines and reducing the number of subsidiaries. Expectations are that many of Longmay’s mines are nearly depleted and production continues to slow.  This raises important questions about whether or not there are similar factors that will impact other coal mining operations in China. Two major factors will continue to be slow demand and current prices- and how long that situation lasts will certainly influence the future.

To read the entire CRU Group report, click here (link will open in a new window.)