Energy Insider: Shanghai to Deploy More NEVs in Public Transportation; Shanxi Warns Local Mining Companies Over Financial Risks

In today’s Caixin energy news wrap: A slew of deadly mining accidents sparked regulators to call for tighter scrutiny; coal-rich Shanxi tells mining companies to step up financial risk controls; Yunnan Copper plans to offload debt-ridden assets; and Shanghai to have more clean energy-powered buses over the next five years.

Yunnan Copper to sell debt-ridden unit

Yunnan Copper Co. Ltd. (000878.SZ) will seek to sell its 63.4% holding in Yunnan Jinsha Mining Industry Co. Ltd. for 721 million yuan ($112.7 million) in a bid to optimize its assets structure, the company said Tuesday. The unit has suffered operating difficulties in recent years and recorded 798 million yuan of losses over the past three years, Yunnan Copper said. All three mines owned by Yunnan Jinsha are not in normal operation, the company said.