PRZOOM - /newswire/ -
Sarasota, FL, United States, 2007/04/17 - After announcing a mine degasification contract with China’s largest coal miner, Pacific Asia China Energy is currently discussing additional ‘methane degasification services’ with more than 25 Chinese coal companies.
Pacific Asia China Energy (PACE) executive vice president Steve Khan is excited about the accelerating interest Chinese coal companies have expressed in his company’s ‘methane degasification service.’ China faces serious safety issues in the country’s coal mines. Tunneling and other accidents, including many methane gas explosions, reportedly kill more than 5,000 coal miners every year. China has ordered its coal companies to improve mine safety or be penalized. PACE began offering its ‘de-gas strategy’ late last year after the announcement.
After the company announced its first coal mine de-gas project with a subsidiary of Shenhua Group, China’s largest coal miner, in February, other coal companies have been contacting PACE. “We are at various stages now with numerous coal companies and have also signed a Memorandum of Understanding for another project,” Khan told StockInterview in today’s audio interview on the financial news website. “Right now, our list is well over 25 companies in China.”
Khan also told StockInterview that PACE is “discussing more degasification contracts with the Shenhua Group.” The world’s third largest coal miner has 13 coal mines in China among other interests. About 80 percent of China’s coal mining related deaths each year are attributed to methane gas explosions. China’s coal mines releasing methane gas are also responsible for nearly 40 percent of the country’s air pollution.
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