Anyuan Coal expected to turn losses into gains with RMB112 million capacity replacement fund
2017-12-19 16:47:07 [Print]
Anyuan Coal made an announcement on the evening of December 14th that Yangquan Erjing Hexie Coal Co
The announcement shows that Anyuan Coal would cut its annual capacity by 2.65 million tons after shutting down the above coal mines, equivalent to 927,000t/y of production capacity replacement trading quota according to provisions . The listing price of the entrusted transaction is RMB116.9/t . The trading value acquired through production capacity replacement is just enough to make up the losses in the first three quarters of this year, which may help Anyuan Coal to turn losses into gains.
Anyuan Coal has recently announced that it exited eight pairs of coal mines (Gaokeng, Yangqiao, Huangchong, Pinghu, Jianxin, Wujia, Juyuan and Tianhe) in 2016 as planned and has withdrawn from two pairs of coal mines (Qiaoer and Dongcun) so far this year with the extension plan for Baiyuan coal mine to be approved. The company intends to shutdown Qinghshan coal mine in 2018 owing to the resources depletion, poor mining conditions and security threats.
At present, Anyuan Coal has shut down 10 pairs of mines with 2.95 million tons of capacity cut . The company would have a capacity of 3 million tons in late 2018 after shutting down Qingshan coal mine, meaning half of the capacity is cut in three years.
. , Ltd . under Shanxi Coal Transportation and Sales Group Co . , Ltd . , Jungar Banner Yaogou Dawei Coal Co . , Ltd . and Erdos Yingpanhao Coal Co . , Ltd . have won coal production capacity replacement trading quota of 23,000t, 139,000t and 765,000t respectively with prices of RMB121.5/t, 121.4/t and RMB121.3/t through an open bidding . The total transaction value is RMB112 million.
The announcement shows that Anyuan Coal would cut its annual capacity by 2.65 million tons after shutting down the above coal mines, equivalent to 927,000t/y of production capacity replacement trading quota according to provisions . The listing price of the entrusted transaction is RMB116.9/t . The trading value acquired through production capacity replacement is just enough to make up the losses in the first three quarters of this year, which may help Anyuan Coal to turn losses into gains.
Anyuan Coal has recently announced that it exited eight pairs of coal mines (Gaokeng, Yangqiao, Huangchong, Pinghu, Jianxin, Wujia, Juyuan and Tianhe) in 2016 as planned and has withdrawn from two pairs of coal mines (Qiaoer and Dongcun) so far this year with the extension plan for Baiyuan coal mine to be approved. The company intends to shutdown Qinghshan coal mine in 2018 owing to the resources depletion, poor mining conditions and security threats.
At present, Anyuan Coal has shut down 10 pairs of mines with 2.95 million tons of capacity cut . The company would have a capacity of 3 million tons in late 2018 after shutting down Qingshan coal mine, meaning half of the capacity is cut in three years.