The Hegang subsidiary of Longmei is a state-owned mining company with an annual coal output of 12 million tons, China News Agency reported.
With assets totaling 6.51 billion yuan and 88,320 employees, it’s one of the 520 key state-owned enterprises.
The Hegang mining area, covering 252 square kilometers, is located in the northeastern part of Heilongjiang province. It has a verified coal reserve of 3 billion tons.
The subsidiary has a history of 84 years.