Last week a deadly mine collapse accident in China resulted in at least 5 worker fatalities. Several more, about 47 workers are still believed to be trapped inside as rescue efforts from authorities are in full swing.
The mine was an open pit coal mine in the province of Inner Mongolia. Meanwhile, the accident has prompted mine safety checks at several other mines in China and not just coal mines but also rare earth mines such as Lithium mines.
Reportedly over 200 workers have been killed in the year 2022 itself in mining accidents in China.
The latest accident has resulted in a jump in coal prices, which are now about Yuan 1168 (approx $ 168) per ton. The latest spot inspections may result in more closures and coal prices may rise even further.