China's top economic planner approves coal mine project

China's top economic planner has approved a coal mine construction project in the city of Yulin, Northwest China's Shaanxi province.

The project's investment totaled 6.5 billion yuan ($965.36 million), according to a statement on the website of the National Development and Reform Commission.

Shaanxi Energy Zhaoshipan Coal and Electricity Co., the coal owner, will provide 1.97 billion yuan, or about 30 percent of the total investment. The remaining capital will come from bank loans.

Once built, the project is expected to produce 6 million tonnes of coal per year, the statement said.