Reorganization, mergers gather pace in coal sector

Mergers and reorganization of China's central coal enterprises are speeding up, amid the government's effort to promote industry concentration and deepen supply-side structural reform.

China Poly Group Corp announced on Monday that it will transfer its coal business - Poly Energy Holdings Ltd - to China National Coal Group Corp, also known as Chinacoal, which is the second time that Chinacoal has consolidated coal assets.

Owning coal mines in Shanxi province and the Xinjiang Uygur autonomous region, Poly Energy currently has 11 coal mines and controls nearly 2.6 billion metric tons of coal resources.