BEIJING, May 11 (AP) -- A bid of close to US$100 million is expected for a coal mining license in northwest China, state media reported Friday.

Xinhua News Agency said mining rights to the southern area of the Zhengningnan coal reserve, the biggest coal base in Gansu province, will be auctioned off June 18.

It quoted a source with the provincial land transaction center as saying the sale of the mining license is expected to set a record in the province with a reserve price of 750 million yuan (US$97.4 million; €72 million).

It did not say what the previous record was.

China's booming economy is heavily dependent on coal, which supplies 70 percent of the country's energy needs. It is the world's largest coal producer and consumer.

China also has a mixture of modern-run mines and private, small mines using dangerous methods.

The government says 4,750 people died in coal mine accidents last year -- an average of 13 a day.