Datong Coal Industry Intends To Spend 2 Billion 200 Million Yuan On Acquisition Of Mine Assets

Datong Coal Industry evening announcement, the company intends to acquiring company control shareholder Coal Group owned Yanzi mountain mine related assets, asset valuation price of 2 billion 186 million yuan, which is Datong coal major shareholders practicing the 2006 listing of the overall listing commitments.

Datong coal industry said that the acquisition of assets is in line with the requirements of the company's development strategy, and will help solve the problem of competition between the company and the same coal group, which is in line with the interests of the company and all shareholders.

According to statistics, as of November 30, 2009, Yanzi mountain mine reserves 308 million 894 thousand tons of resources and recoverable reserves of about 136 million 198 thousand and 800 tons.

According to the existing production scale, the remaining recoverable life of Yanzi mountain mine is about 24.3 years.

By the end of November 2009, the total assets of Yanzi mountain's related assets were about 1 billion 329 million yuan, with net assets of 1 billion 107 million yuan.

From 2009 to November, the operating income reached 1 billion 414 million yuan, with a total profit of 30 million yuan and a net profit of 23 million yuan from 1 to November.

According to the prospectus of Datong Coal Industry in 2006, as a commitment to solve the competition between the listed company and its parent company, Datong Coal and Datong Coal Group reached an agreement in 2004. The same coal group has gradually injected its existing high-quality coal business and assets into Datong coal industry. Before 2014, Datong Coal Industry became the only business entity in the same coal group affiliated enterprise to operate the coal mining business.