Safety concerns for mines to raise prices

China will require the coal industry to invest more in safety, spurred by a series of high-profile mine accidents, including the Fuxin mine disaster that claimed more than 200 lives last week, the South China Morning Post reported. Beijing recently said it wants to expose poorly managed mines and improve safety technology. If Beijing is committed to improving mine safety, coal prices are sure to rise. Experts say mines are operating overtime without regard to safety and as the government cracks down on safety rules and shut down illegal and unsafe mines, reduced supply will lead to higher prices.