Deal mined
By Richard Fu |
November 27, 2010, Saturday
|
Print Edition
Print Edition
HUADIAN Power International Corp has agreed to buy two mines in Shanxi Province for 704.5 million yuan (US$106 million).
The company will integrate the Jinneng Erpu and Antaipu coal mines, which it plans to purchase, with the Wantongyuan Erpu mine which it already controls. The integrated mine will have an annual output capacity of 2.1 million tons.
Huadian's power plants have a heavy reliance on coal from Shanxi, so developing mines there will help the company improve self-sufficiency rate for coal and better control coal prices, it said in a statement to the Hong Kong stock exchange yesterday.
The company will integrate the Jinneng Erpu and Antaipu coal mines, which it plans to purchase, with the Wantongyuan Erpu mine which it already controls. The integrated mine will have an annual output capacity of 2.1 million tons.
Huadian's power plants have a heavy reliance on coal from Shanxi, so developing mines there will help the company improve self-sufficiency rate for coal and better control coal prices, it said in a statement to the Hong Kong stock exchange yesterday.
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