News summary
Dayu Coal Industry, a subsidiary of Jinmei Group, 2multilinevideopoker.72 billion yuan won the mining rights of Pinglu Jinping Coal Industrymultilinevideopoker, this move may be aimed at integrating resources, improving efficiency and market competitiveness.
Newsletter text
The Shanxi Province Department of Natural Resources announced on May 23 that after public listing procedures, Shanxi Jinmei Group Pinglu Jinping Coal Industry Co., Ltd.multilinevideopokerThe mining rights of the company were ultimately awarded at approximately 2multilinevideopoker.72 billion yuan was transferred to Shanxi Jinmei Group Dayu Coal Industry Co., Ltd., both companies are subsidiaries of Jinneng Holding Group. [The mining rights were publicly transferred, and Dayu Coal Industry, a subsidiary of Shanxi Coal Group, won the bid for 272 million yuan.] According to the public listing transfer work organized and implemented by the Natural Resources Development Center of Shanxi Province, the winner was Shanxi Coal Group Dayu Coal Industry Co., Ltd., established in 2012 and located in Changzhi City, Shanxi Province, and the legal person is Hou Jinqiang. The transferor Pinglu Jinping Coal Industry was also established in 2012, located in Yuncheng City, and the legal person is Wang Zhenkui. Both companies focus on coal mining and washing business. Among them, Pinglu Jinping Coal Industry is 85% owned by Shanxi Jinmei Group Jinming Mining Co., Ltd., and Wang Jianguo holds 15%. Dayu Coal is 51% owned by Jinneng Holding Equipment Manufacturing Group Jinding Shanxi Coal Machinery Co., Ltd., and Wu Changqing holds 49%. However, industrial and commercial information shows that Wu Changqing has pledged his equity to Jinming Mining. This transfer of mining rights may be based on resource integration, improvement of production efficiency and market competitiveness. At the same time, mining rights may be concentrated in lower-cost coal mines based on economic benefits. Previously, Shanxi Linrun Coal Industry Co., Ltd. also tried to list and transfer mining rights, but the transaction was suspended due to the seizure.