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Yankuang Group Australia Mining Coal

Bloomberg -- China has approved a merger of two coal miners to create a new giant in the worlds top producer and consumer of the fuel.

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China Approves Coal Merger To Create New Mining Giant

China Approves Coal Merger To Create New Mining Giant

Aug 14, 2020nbsp018332Bloomberg -- China has approved a merger of two coal miners to create a new giant in the worlds top producer and consumer of the fuel. Yankuang Group Co. Ltd.s merger with fellow miner ...

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Yankuang Group Co Ltd Mining Business Media

Yankuang Group Co Ltd Mining Business Media

Creation of the new firm, Shandong Energy Company Ltd., is among the latest steps by Beijing to concentrate coal production in large, efficient firms in an effort to better regulate and streamline the industry. Despite global efforts to stem use of the most polluting fuel, its abundance and low cost in China have put it on course to dominate its power sector for years to come.

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China Approves Merger Of Two Coal Giants

China Approves Merger Of Two Coal Giants

A consolidation of the two firms, both owned by the Shandong Provincial State-owned Assets Supervision Administration Commission, would create the nations second-largest coal miner, analysts at Morgan Stanley said in July, with total output of 291 million metric tons a year.

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Moodys Assigns Firsttime Ba1 To Yankuang Group

Moodys Assigns Firsttime Ba1 To Yankuang Group

China Energy Investment Corp. is the countrys largest producer at 510 million tons. Yankuang and Shandong also had a combined revenue of 638 billion yuan 92 billion, based on their latest annual data.

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Yankuang Group Australia Mining Coal

Yankuang Group Australia Mining Coal

Yankuang Group Co., Ltd. is an extra-large State-Owned-Enterprise SOE mainly engaged in coal mining amp sales, coal chemical industry, power generation amp aluminum production and machinery manufacturing. The mining business commenced development in 1966 and Yanzhou Coal Mining Bureau was established in 1976.

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China Approves Megamerger Of Two Coal Giants

China Approves Megamerger Of Two Coal Giants

China hasnbspapproved the mergernbspof two of Shandong provincersquos top state-owned coal miners, Shandong Energy Group and Yankuang Group, a decision that effectively creates a new top company in the worldrsquos top producer and consumer of the fossil fuel.

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Yankuang Group

Yankuang Group

The combined company, Chinarsquos second-largest coal producer after China Energy Investment Corporation CEIC, will operate under the name Shandong Energy Group.

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Yankuang Group

Yankuang Group

Itrsquos expected to account for close to 7 of the countryrsquos total coal output

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Yankuang Group Co Ltd Mining Business Media

Yankuang Group Co Ltd Mining Business Media

Chinese state-controlled Yanzhou Coal Minings Australia-listed unit is seeking a dual listing on the Hong Kong bourse by the end of the year.

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White Signs Mou With Yankuang Group

White Signs Mou With Yankuang Group

The Hong Kong listing plan follows the completion of Yancoal Australias 2.69 billion acquisition of Australian coal assets from mining giant Rio Tinto after a bidding war last year with Swiss rival Glencore.

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Yankuang Group

Yankuang Group

A Hong Kong listing would build on the Rio Tinto deal, which made the company Australias largest pure-play coal producer, Yancoal Australia Chief Executive Officer Reinhold Schmidt said Monday in a statement. The dual listing aims to increase liquidity in Yancoals shares and help further diversify Yancoals investor base, Yancoal Chairman Baocai Zhang said in the statement.

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Yankuang Group Australia Mining Coal

Yankuang Group Australia Mining Coal

Concurrently with the Hong Kong IPO, the company also proposed a separate campaign to raise capital, in which existing shareholders will have the opportunity to participate on a pro-rata basis, details of which have yet to be finalized. Yancoal didnt say how much capital it intends to raise.

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Yancoal Australia Seeks Dual Listing In Hong Kong Caixin

Yancoal Australia Seeks Dual Listing In Hong Kong Caixin

Jul 03, 2018nbsp018332Yanzhou Coal Mining, which is controlled by Chinese state-owned enterprise Yankuang Group, owns almost 66 of the Australian unit. Yancoal said Monday in a statement that the controlling parents percentage holding will decrease as a result of the capital raising, but Yancoal will remain a subsidiary of Yanzhou Coal Mining.

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Yankuang Group Corporation Coal Mining Australia Ubicacion

Yankuang Group Corporation Coal Mining Australia Ubicacion

The company will hold a special shareholder meeting in September to vote on the proposal. Controlling shareholder Yanzhou Coal Mining said it intends back the resolution.

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Yankuang Group Corporation Coal Mining Australia Ubicacion

Yankuang Group Corporation Coal Mining Australia Ubicacion

The company said it filed the Hong Kong IPO application on a confidential basis. It has yet to disclose a prospectus for the offering. The Hong Kong Exchange requires the disclosure of an IPO prospectus after more details of the capital raising are finalized, the companys investor relations department told Caixin.

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Chinas First Coal Mine In New South Wales And Australia

Chinas First Coal Mine In New South Wales And Australia

Yanzhou Coal Mining, which is controlled by Chinese state-owned enterprise Yankuang Group, owns almost 66 of the Australian unit. Yancoal said Monday in a statement that the controlling parents percentage holding will decrease as a result of the capital raising, but Yancoal will remain a subsidiary of Yanzhou Coal Mining. Cinda International HGB Investment U.K. Ltd. currently owns a 17 of Yancoal.

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Shandong To Merge Its Top Two Coal Mining Groups

Shandong To Merge Its Top Two Coal Mining Groups

Yancoal appointed Morgan Stanley Asia Ltd., CMB International Capital Ltd., and BOCI Asia Ltd. as joint sponsors, global coordinators, lead managers and book runners in the proposed dual listing and the associated capital raising. Morgan Stanley will also act as the financial adviser.

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Rio Tinto Agrees Sale Of Coal Amp Allied

Rio Tinto Agrees Sale Of Coal Amp Allied

It is owned 78 per cent by Yanzhou Coal Mining Company Limited, which is listed on the Hong Kong, Shanghai and New York Stock Exchanges. Yanzhou is in turn owned 56 per cent by Yankuang Group Company Limited, which is controlled by State-owned Assets Supervision and Administration Commission of Shandong Province in the Peoples Republic of China.

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Fitch Places Yanzhou Coal On Rating Watch Positive

Fitch Places Yanzhou Coal On Rating Watch Positive

Jul 15, 2020nbsp018332The RWP reflects Fitchs expectation that when the merger of Yankuang Group Co., Ltd., which owns 51.8 of Yanzhou Coal, and Shandong Energy Group Co., Ltd is completed, the combined entity will have a stronger likelihood of support from Shandong province than Yankuang has currently due to the enhanced strategic role in coal supply and leading ...

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Yankuang Group Company Limited Moodys Proposed

Yankuang Group Company Limited Moodys Proposed

Jul 15, 2020nbsp018332Yankuang Group Company Limited -- Moodys - Proposed merger with Shandong Energy is credit positive for Yankuang Group and Yanzhou Coal

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Yankuang Group

Yankuang Group

Lai Cunliang, Deputy General Manager of Yanzhou Coal Mining Company and some executives from Yanzhou Coal Mining Company and Yancoal Australia attended the meeting. This is the first board meeting since the establishment of the New Board of Directors after the merger and listing of Yancoal Australia Pty. and Gloucester Coal Ltd. on Australian ...

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Yanzhou Coal Snatches Rio Tinto Australia From Glencore In

Yanzhou Coal Snatches Rio Tinto Australia From Glencore In

The Coal and Allied acquisition will add 556m tonnes of marketable coal reserves on top of Yancoals current reserve of 274m tonnes, and more than double its output

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Yankuang Group Australia Mining Coal

Yankuang Group Australia Mining Coal

Rio Tinto has reached a binding agreement for the sale of its wholly-owned Australian subsidiary Coal amp Allied Industries Limited to Yancoal Australia Limited for up to 2.45 billion comprising

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White Signs Mou With Yankuang Group

White Signs Mou With Yankuang Group

Prior to 24 February 2017, Yancoal Australia is entitled to elect an alternative purchase price structure of a single cash payment at completion of 2.35 billion.

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