Yima Coal Industry Group

Yima Coal Industry Group (义马煤业集团股份有限公司) is a large State-owned coal company born out of the defunct Yima mining bureau in December 1997 after administrative reforms. It now has a staff of more than 50,000 and total assets worth 15.7 billion yuan ($2.54 billion). It has mining areas in Henan, Qinghai, Xinjiang, Shanxi and Inner Mongolia. It operates 16 mines and has a raw coal production capacity of more than 22 million tons. The company's coking coal, meager lean coal, anthracite coal and cleaned coal are widely used in power, gas, boilers, building materials and coking industries and are sold across 20 domestic provinces and regions. In addition, Yima has also been involved in manufacturing; power generation;and cement, alumina and coal chemical industries. It has been honored as the most influential company in Henan and a safety model company. It boasts an advanced Party committee, outstanding culture, and great contributions to energy conservation and emissions reduction. The company has also won the national May Day Labor Award.

Yima is ideally located, with Luoyang city to the east, Sanmenxia to the west, the Lianyungang-Khorgos Highway to the north, and the Lanzhou-Lianyungang Railway and 301 Highway to the south. In recent years, the company has adhered to harmonious and scientific development and has branched out to more diversified businesses. It has upgraded its coal chemical structure and operates on an effective modern mechanism. The company has helped employees reach their dreams and strives for all-around safety. It vigorously promotes unity, practicality, innovation, diligence and standard management, and has seen great improvements in its work and economic benefit. In 2008, Yima's raw coal production and sales broke 21.9 million and 21.8 million tons, bringing 11.9 billion yuan in sales income and 1.9 billion yuan ($287.55 million) in profit taxes. Worker's income exceeds 33,000 yuan, with numerous economic and technical indices hitting a record high. In the first half of this year, Yima gracefully coped with the financial crisis and managed to maintain good economic momentum. It produced 10.37 million tons of raw coal and sold 10.37 million tons of commercial coal. The company's production and business operations totaled 6.32 billion yuan, with 180 million yuan in profit.

Yima has also sped up horizontal and vertical development and vigorously promoted industry and product structure adjustment to form three main businesses focusing on coal, coal chemicals and aluminum. Through cooperation or joint ventures, it plans to build six coal bases with an annual production capacity of 10 million tons in Qinghai, Xinjiang, Shanxi and Inner Mongolia.

Yima has hammered out a three-step development strategy that focuses on a "strong take-off, branching-out and soaring" in order to build itself into a 100-billion-yuan super-large conglomerate.

Web: http://www.ymgfgs.cn/