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Wednesday, December 7, 2011

L&L Energy inks coal marketing deal with Chinese Co

Wednesday, 07 Dec 2011

Reuters reported that L&L Energy Inc a US based company with coal mining and distribution businesses in China subsidiary signed an agreement with China Chengtong Metal Corporation to jointly sell one million tons of coal in China during 2012.

L&L Energy which was founded in 1995 and operates in Yunnan and Guizhou provinces in southwest China said the sale pact is expected to generate USD 150 million in revenues at USD 150 per ton coal price.

L&L Energy said in a statement that DaXing-L&L Coal Inc a subsidiary of L&L Energy and China Chengtong Metal Tianjin Company a subsidiary of state owned CCMC will jointly source and sell coal in China.

(Sourced from Reuters)

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