Coal news and updates

An arm of one of China's biggest conglomerates is defending itself against a Chinese media report, which has hammered its share price, and a shareholder lawsuit related to the purchase of coal-mining assets. 

 

Power producer China Resources Power Holdings Co. said Thursday in a statement filed to the Hong Kong Stock Exchange that payments made by an associate company in 2010 to purchase Chinese coal-mining assets from a local company were below the appraised value and made after "arm's-length negotiations." 

 

Source: online.wsj.com