BAOSTEEL Group Corp signed agreements with two Chinese coal producers to jointly develop mines and seek acquisitions, the China Securities Journal reported, without citing anyone.

Baosteel signed an accord with Henan Jiaozuo Coal Mine Group to develop a mine in Zhaogu, Henan Province, to produce as much as 1.8 million metric tons of coal annually, the report said. The steel company also signed an agreement with Guizhou Shuicheng Coal Mining (Group) Co, based in the southwestern province of Guizhou, to cooperate on projects including possible acquisitions of local small coal mines.