China to fund closure of coal mines

BEIJING: China will allocate 30 billion yuan (US$4.56bil) in funds over the next three years to support the closure of small and inefficient coal mines and redeploy around 1 million workers, state media reported.

The Chinese government is determined to reduce the share of coal in its overall energy mix as part of efforts to cut smog and greenhouse gas emissions, but it also looking to secure a soft landing for a sector that employs around six million people.