Shougang agrees on coal deal

Shougang International Trade and Engineering has agreed to buy 25 percent of Kailuan Dehua from Canadian Dehua International Mining Group (Dehua International) for $22.96 million, a bid that will clear way for a three-party investment in two coal mines in Canada by proportionately adding capital to the joint venture Kailuan Dehua, in which Kailuan Energy Chemical and Dehua International will hold 51 percent and 24 percent respectively.