Nanchang Steel to buy coal assets

Nanchang Steel is planning to invest 211.68 million yuan to buy 49 percent of Jinhuangzhuang Mining, Anhui. Founded on September 30, 2006, Jinhuangzhuang Mining now operates two coal mines that produce coking coal, anthracite and lean coal: the Jinhuangzhuang Mine and the Haozhuang Mine, with a combined reserve of 95.52 million tons. The former is scheduled to start production in November 2012 and the latter is still under feasibility study.