China Knowledge reported that Huadian Power International Corp Ltd has inked an agreement to purchase a 20% stake in a trade firm for CNY 268 million to acquire partial assets in a colliery in Erdos, Inner Mongolia Autonomous Region.

The colliery which is designed to have an annual coal output of 1.2 million tonnes has coal reserves of 216 million tons, 158 million tons of which are recoverable, and the project will be put into operation at the end of 2011.

The listed acquirer said that the colliery is located a short distance away from one of its power stations in Ningxia Hui Autonomous Region.

(Sourced from China Knowledge)