L&L Energy plans to buy stake in China’s Shunda Mining
Coal company L&L Energy Inc (LLEN.O) intends to buy at least a 51 percent stake in Shunda Mining Co, including two coal mines and a coal washing facility, in a bid to tap into higher demand for coal and energy in China.
Coal company L&L Energy Inc (LLEN.O) intends to buy at least a 51 percent stake in Shunda Mining Co, including two coal mines and a coal washing facility, in a bid to tap into higher demand for coal and energy in China.
The press release is quoted as saying:
The two coal mines that L&L Energy plans to buy have a total a production of 750,000 tons per year and the coal washing facility has annual production of 900,000 tons. L&L Energy is currently performing due diligence regarding the acquisition and expects the acquisition to add to its earnings in the first year.