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New measures against energy crisis

China has ordered local coal mines to ramp up production as quickly as possible to address the energy crisis in the country. Energy authorities in Inner Mongolia ordered 72 mines to expand production capacity by 100 million tons, the Financial Times reports. That would be a 55 percent expansion in production. According to analysts, coal prices could fall from 1,500 yuan per ton to 1,200 to 1,300 yuan as a result. The coal-producing provinces of Shanxi and Shaanxi have also pledged to increase coal supplies to power plants at a discounted price in the fourth quarter, according to business portal Caixin. However, the Shanxi provincial government briefly halted production at 60 coal mines due to persistent heavy rain on Saturday. The extreme weather had led to landslides, Bloomberg reported. Shaanxi province was also affected by heavy rain.

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