Jinshan Energy 500 million yuan to purchase Chinese coal mines

On July 26th, Jinshan Energy announced that it had purchased a Chinese coal mining company for a total consideration of 500 million yuan. It is understood that the Target Company currently owns and operates a coal mine located in Ordos City, Inner Mongolia, China, with a permit area of ​​8.396 square meters.

The coal mine is approximately 46 kilometers from Dongsheng District, and Dongsheng District is the seat of Hengtai Coal Mine, Ordos City, which the Group currently owns and operates. The coal mine is adjacent to the already-built road and railway infrastructure, facilitating the transportation of coal in and out of the district. The coal mine connects National Highway 109 and 210 and is adjacent to Baoshen Railway.

The mining license of the mining right coal mine is No. 150000830688. It will expire on December 31 this year. The mining area is 8.396 square kilometers, and the approved production capacity is 600,000 tons per year. The technical upgrading of coal mines has been completed recently and is currently awaiting the approval of relevant Chinese government agencies to increase the coal mines' approved production capacity to 900,000 tons for 1 year.