Coal news and updates

Kailuan Group, CR Power ink deal on coal supply

Hebei-based coal miner Kailuan Group and Hong Kong-listed China Resources Power Holdings Co., Ltd. (CR Power) have recently inked a deal on thermal coal supply, said Kailuan Group on its website September 22.

Tangshan Fengrun Co., Ltd., one unit of CR Power is expected to buy 10,000 tonnes of thermal coal from Kailuan Group in September, increase monthly purchase of thermal coal from Kailuan Group to over 20,000 tonnes from this October, if the coal quality is appropriate.

The move would help Kailuan Group to broaden sales channels for superior customers, and laid a basis for supplying thermal coal to Caofeidian port’s power plants – operated by CR Power.

Kailuan Group also rose fat coal supply to Baoshan Iron and Steel Co., Ltd. (Baosteel) -- China’s largest listed steel maker – to 45,000 tonnes in September, thanks to its measures to ensure market share and the balance between production and sales.

source: http://en.sxcoal.com