It is reported that Huadian Power International Corp, the largest independent power producer plans to earmark CNY 1.59 billion to buy 3 coal mines in Shanxi Province and aiming to secure its coal supply.

Huadian Power in a statement filed with the Shanghai Stock Exchange said that it will buy Shanxi Jinneng Bailu Coal Industry Co Ltd for CNY 550 million, Shanxi Shuozhou Pinglu Xijiazhai Coal Co Ltd for CNY 800 million and Shanxi Shuozhou Yibanling Coal Industry Co Ltd for CNY 239 million.

Upon the completion of the acquisition, Huadian Power plans to integrate the three coal mines into one with a combined annual coal production capacity of 1.2 million tonnes.

(Sourced from MySteel.net)
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