China Coal Mining Group invests RMB 2 billion to develop coal resources

Shandong Yankuang Group and China Coal (Overseas) Group Corporation entered into a strategic cooperation agreement. China Coal (Overseas) Group Corporation will invest RMB 2.026 billion in advance to jointly promote the construction of Yankuang Group's coal production base in Guizhou. This is one of the major foreign investment projects in Guizhou Province in recent years.

In this strategic cooperation, Yankuang Group is based on the group's net investment of 985 million yuan in the consolidated premium of Guizhou Nenghua Co., Ltd., which is based on the consolidated premium of 54%; and the cash flow of the China Coal Mines (Overseas) Group is increased by 296 million US dollars (equivalent to **). *20.26 billion yuan), accounting for 46% of the registered capital of the new joint venture company. After five years of joint venture, the annual coal production capacity in the Guizhou region will reach 15 million tons, and the coal-fired power generation and CBM power generation will have an installed capacity of 1 million kilowatts. Sales revenue exceeds 10 billion yuan.