The company signed an updated contract with Datang on May 15 to provide 1 million tons of coal to a Datang member annually.

Officials said one strategic focus since that time had been on executing that contract.

Devoid of cash flow stop-ups, L&L said it intended to “accelerate the execution” of its growth relationship with Datang and further expand its distribution network in south China.

L&L maintains three rail loading and blending facilities, which are located to bring together coal from a large area.

It is also working with Datang to leverage its US network in a bid to further reduce coal pollutants in power generation.

L&L independent board member Mohan Datwani called Datang a “brand name” and said the ability to free up the working capital for acquisitions and capex for its growth will be crucial.

“The transaction with Ironridge Global IV came at an opportune time as historically low August coal prices create a favorable opportunity for us to secure large quantities of coal,” he said.

L&L is completing due diligence for a large mining operation in north China with more than 1 million tons of annual capacity.