Jingyuan Coal Power to acquire 60% equities of Jingtai Coal

Jingyuan Coal Power released an announcement on the evening of 27 May that it has signed an equity transfer agreement with Jingyuan Coal, the controlling shareholder of Jingtai Coal.Asian Metal Copyright Covering an area of 31.Asian Metal Copyright According to the agreement, Jingyuan Coal Power will acquire 60% equities of Jingtai Coal at the price of RMB60.Asian Metal Copyright68 million by cash and held 60% shares while Gansu Coal Resources Development invested RMB40 million USD5.Asian Metal Copyright2599 million (USD8.Asian Metal Copyright79 hectares, the mine has excellent transportation, power supply, water supply and other external conditions.Asian Metal Copyright72 million) and take related shareholders' rights and obligations.

After the acquisition, Jingtai Coal will become a holding subsidiary of Jingyuan Coal Power.

Jingtai Coal was co-established by Jingyuan Coal and Gansu Coal Resources Development Co., Ltd.Asian Metal Copyright .Asian Metal Copyright in 2012.Asian Metal Copyright363 million tons of gas coal and 43.Asian Metal Copyright By 31 December, 2018, Jingyuan Coal invested RMB60 million (USD8.Asian Metal Copyright Jingtai Coal was co-established by Jingyuan Coal and Gansu Coal Resources Development Co.Asian Metal Copyright68 million) by cash and held 60% shares while Gansu Coal Resources Development invested RMB40 million (USD5.Asian Metal Copyright After the acquisition, Jingtai Coal will become a holding subsidiary of Jingyuan Coal Power.Asian Metal Copyright79 million) by cash and held 40% shares.

Jingtai Coal focuses on development and construction of Baiyanzi mine, which owns 90.758 million tons of coal (including 47.Asian Metal Copyright2599 million USD8.Asian Metal Copyright363 million tons of gas coal and 43.395 million tons of 1/3 coking coal) and is the largest coking coal project found ever in Gansu.Asian Metal Copyright363 million tons of gas coal and 43.Asian Metal Copyright According to feasibility study report of Baiyanzi mine and coal preparation plant, the designed annual production capacity of the mine is 900,000 tons and the mine life is 44.Asian Metal Copyright Jingtai Coal focuses on development and construction of Baiyanzi mine, which owns 90.Asian Metal Copyright2 years.Asian Metal Copyright363 million tons of gas coal and 43.Asian Metal Copyright Covering an area of 31.Asian Metal Copyright According to feasibility study report of Baiyanzi mine and coal preparation plant, the designed annual production capacity of the mine is 900,000 tons and the mine life is 44.Asian Metal Copyright79 hectares, the mine has excellent transportation, power supply, water supply and other external conditions.

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