China Aproves Mega Merger Of Two Coal Giants

China has approved the merger of two of Shandong province’s top state-owned coal miners, Shandong Energy Group and Yankuang Group, a decision that effectively creates a new top company in the world’s top producer and consumer of the fossil fuel. The combined company, China’s second-largest coal producer after China Energy Investment Corporation (CEIC), will operate under the name Shandong Energy Group. It’s expected to account for close to 7% of the country’s total coal output Gewin Ho, a Moody’s vice…