Qitaihe Baotailong Coal and Coal Chemicals Public (601011) plans to acquire to two coal mines in an unspecified location, one for 60 million yuan, the other for 52 million yuan, reports Shanghai Securities Journal, citing a company filing.

The sellers of mines gave commitment that the assets will yield no less than 16 million yuan for the remainder of this year and 30 million yuan and 30 million yuan in 2012 and 2013, respectively.

The transaction will improve Baotailong’s supply capacity and lower the risk of fluctuations in crude coal prices, the report said.
 

Source:CapitalVue