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The explosion at a mine run by the Anxin Coal Mining Company in the Shanxi province was a result of defective explosives stored in the mine shaft self-igniting, according to state media.
Twenty-four miners were rescued and the dead bodies were pulled out of the mine on Saturday.
The rescue effort for the trapped miners was stopped on Saturday after rescuers found unused explosives and detonators in the shaft.
Poor safety management and overcrowding contributed to the large death toll, China’s Xinhua news agency reported.
According to the safety rules 29 people were allowed to work in the shaft at any one time, but 58 workers were in the mine when the accident happened.
Investigations showed the company had exceeded its production quota, mined in unapproved areas and used poor ventilation systems, State Administration of Coal Mine Safety director Zhao Tiechui told Xinhua.