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Yanzhou Coal Falls Most in More Than Two Years After Potash Acquisitions
Oct. 03, 2011 05:09PM PST
Potash InvestingBloomberg reported that shares of Yanzhou Coal (NYSE:YZC) fell 14% following the company’s purchase of Canadian potash permits.
Bloomberg reported that shares of Yanzhou Coal (NYSE:YZC) fell 14% following the company’s purchase of Canadian potash permits.
As quoted in the market news:
“Investors certainly do not like it,” said Lawrence Lau, a Hong Kong-based analyst at Bank of China Ltd. “It’s entering a field the company is not familiar with or has experience in. Potash is not even remotely part of Yanzhou’s core business.”