US company to aid China in developing coal mine
March 26, 1982
Peking
Occidental Petroleum of the United States signed an agreement with China to carry out a feasibility study it expects will lead to a joint venture to develop one of the world's biggest coal mines, expected to produce 15 million tons a year by 1986.
Dr. Armand Hammer, chairman of Occidental, said the Chinese made it clear the the deal would not be affected by the current strain in Chinese-American relations over US arms sales to Taiwan.