Lu'an Clean Energy to acquire Cilinshan Coal Industry
2019-11-22 18:01:48 [Print]
On the evening of November 21, Lu'an Clean Energy Development Co., Ltd. (Lu'an Clean Energy) announced that in order to avoid the competition with the controlling shareholders and enhance the core competitiveness of the company, it planned to pay RMB752 million (106.90 million) in cash to purchase 100% equity of Cilinshan Coal Industry held by Lu'an Group.
Cilinshan Coal Industry now owns three coal mines: Licun coal mine, Cilinshan coal mine and Xiadian coal mine. The brief introductions of each coal mine are as follows:
Cilinshan coal mine is located in Changzhi County, Changzhi City, Shanxi Province, with recoverable coal of 26.81 million tons and an approved production capacity of 600,000tpy. A coal preparation plant was constructed for it.
Licun coal mine is also located in Changzhi County, Changzhi City, Shanxi Province, with recoverable coal of 70.44 million tons and an approved annual production capacity of 3 million. A coal washing plant and a special railway line were built for it.
Xiadian coal mine is in Xiangyuan County, Changzhi City, Shanxi Province. It owns 5 million tons of recoverable coal, and the approved annual production capacity is 1.8 million tons. A coal washing plant was built for it.
As of the announcement date, Lu'an Group has held a total of 63.06% of Lu'an Clean Energy's shares through direct and indirect methods, and is the controlling shareholder of the latter. Actually, Lu'an Clean Energy is controlled by Shanxi State-owned Assets Supervision and Administration Commission
Cilinshan Coal Industry now owns three coal mines: Licun coal mine, Cilinshan coal mine and Xiadian coal mine. The brief introductions of each coal mine are as follows:
Cilinshan coal mine is located in Changzhi County, Changzhi City, Shanxi Province, with recoverable coal of 26.81 million tons and an approved production capacity of 600,000tpy. A coal preparation plant was constructed for it.
Licun coal mine is also located in Changzhi County, Changzhi City, Shanxi Province, with recoverable coal of 70.44 million tons and an approved annual production capacity of 3 million. A coal washing plant and a special railway line were built for it.
Xiadian coal mine is in Xiangyuan County, Changzhi City, Shanxi Province. It owns 5 million tons of recoverable coal, and the approved annual production capacity is 1.8 million tons. A coal washing plant was built for it.
As of the announcement date, Lu'an Group has held a total of 63.06% of Lu'an Clean Energy's shares through direct and indirect methods, and is the controlling shareholder of the latter. Actually, Lu'an Clean Energy is controlled by Shanxi State-owned Assets Supervision and Administration Commission
