MARKETS

Chinese company secures coal

DIVERSIFIED Chinese miner China Natural Resources has agreed to buy coal investment group Newhold Investments for $US42 million.

Vivienne Ryan

In the deal Newhold Investments and its wholly owned subsidiaries, known collectively as the Coal Group, would fall under CNR’s umbrella.

Newhold owns mining rights, through its 70% owned operating subsidiary Guizgou Yongfu Mining Co, to the Yongsheng coal mine in China’s Guizhou region.

The mine’s coal resource is estimated to be over 120 million tons.

“We have been seeking various opportunities to expand our coal and metal reserves through acquisitions,” said company CEO Feilie Li.

“Given the increasing demand for coal in the PRC, it is our intention to continue our expansion in the resources exploitation business in this enormous market.”

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production

editions

Mining Magazine Intelligence Automation Report 2023

An in-depth review of operations using autonomous solutions in every region and sector, including analysis of the factors driving investment decisions

editions

Mining Magazine Intelligence Exploration Report 2023 (feat. Opaxe data)

A comprehensive review of current exploration rates, trending exploration technologies, a ranking of top drill intercepts and a catalogue of 2022 Initial Resource Estimates and recent discovery successes.