Shell Coal pulled out of coal venture in China.
The Royal Dutch-Shell unit pulled out of the $300-million joint venture to develop a large coal mine in Shandong province, about 200 miles southeast of Peking, citing geological factors within the mine that made the venture uneconomic. The mine had been expected to produce up to 4 million tons of coal a year for use in power stations. China National Coal, Shell’s partner in the venture, may continue with the project.
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