Guizhou Guochuang Energy Holding Group
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Guizhou Guochuang Energy Holding is a China-based company "primarily engaged in research, development, manufacture and sale of sanitary ceramic products," according to Reuters.[1]
U.S. coal interests
On May 7, 2012, Guizhou Guochuang Energy Holding Group said it had raised 3.9 billion yuan ($616 million) in a private placement to be used mainly to acquire and develop Triple H Coal Company of Tennessee, making it the first Chinese company to invest in coal in the U.S. Guochuang said Triple H Coal has five mining permit applications awaiting approval, and the company plans to build five new mines with 1 million tons of capacity each after the acquisition, which will have annual production capacity of 5 million tons of coking coal.
Guochuang also said that a wholly owned subsidiary, Jiangsu Dipu Mining Investment Co., would acquire a full stake in Treasure Port International Limited (TPI) for up to $10 million. In March 2011, TPI had acquired Triple H Coal, mainly funded by borrowing from Questmark Mining Rights Investment Fund.[2]
Articles and resources
References
- ↑ "Guizhou Guochuang Energy Holding Group," Reuters, accessed May 2012.
- ↑ Zhang Boling, "China digs into American coal mines," MarketWatch, May 29, 2012.
