Over 10,000 employees in headquarter area were transferred to the newly-developed area, where a number of safe and high-efficient coal mines and China leading high-end fine chemicals parks were established as new economic growth points. A coordinated development pattern was established between the headquarter area and the external area.
While abandoning traditional development mode of high investment, high debt and low efficiency, Yankuang Group has expedited the project construction and supported enterprise transformation and upgrading. A number of projects like Jinjitan Coal Mine and Rongxin 0.9Mt/a methanol project were put into commercial operation, realized full capacity running and made profit in the same year. Moolarben Coal Mine of Yancoal Australia became the biggest open cut in Australia after Phase II expansion, which was approved after 6 years of preparation. Now its production capacity was doubled to 21Mt/a and its profits increased significantly too.
Yankuang Group closed down the backward and low-efficient Beisu Coal Mine, Electrolytic aluminum factory and Yihua Chemicals Company suffered great loss. It also has speeded up the old to new energy conversion, made further coal supply side structural reform and established a development outline “to optimize coal sector, extend coal chain and develop superior non-coal sector”. As a result, a “three in one” coordinated development pattern integrating industrial sector, financial investment and logistics and trade was established.
Guarantee the subsistence based at present, seek for the development in the long term and promote the market competitiveness and sustainable development capability. Set up the distinctive “153” safety management and control mode, cast into “safety shield” and realize continuous safety production for 11 years. Creatively implement democratic assessment supervision and restriction mechanism, block management leak, standardize the operation and guarantee the operation of project construction in the sunshine.