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Yanzhou Coal Increased its Equity Interest in Inner Mongolia Mining (Group) to 51%

2020-10-29 16:33:10

In 28 October, a capital increase agreement was entered into between Shandong Energy Group, Inner Mongolia Geology and Minerals (Group) and Inner Mongolia Mining (Group). After the capital increase, Yanzhou Coal holds 51% equity interest in Inner Mongolia Mining (Group), facilitating the construction of Shaanxi and Inner Mongolia region into a strategic development base.

Zhang Jinliang, the Party Secretary and the Director of the SASAC of Inner Mongolia Autonomous Region, Sui Weijun, the Party Secretary and the Director General of the Department of Natural Resources of Inner Mongolia Autonomous Region Government, Sun Lijian, the Deputy Director of the General Office of the Autonomous Region Government, Li Xiyong, the Party Secretary of CPC Shandong Energy Committee and Chairman of Shandong Energy Group, Chen Wei, the Party Secretary and Chairman of Inner Mongolia Geology and Minerals (Group) attended the signing ceremony.

Li Xiyong said, in his speech, the signing of the agreement marks a fundamental progress in the cooperation between both parties. We will, based on principles of “hand in hand and sincere cooperation, mutual benefit, win-win and common development”, strictly perform the agreement and formulate a scientific transaction plan. He also hoped that both parties will give full play to their respective industry advantage, resource advantage, market advantages, speed up and complete construction of a batch of coal, coal chemical industry demonstration projects so as to establish a green industry chain integrating coal processing, low emission, high value-added value and clean energy conversion. As a result, the reorganized Inner Mongolia Mining (Group) will be constructed into a large-scale leading enterprise in Inner Mongolia not only in quality but also in strength and profit. And also work hard to catch the opportunities and advantages to be bigger and better in the new round of energy revolution and industry structure adjustment.  

Chen Wei said that the signing of the agreement laid a solid foundation for the reorganized Inner Mongolia Mining (Group) in industry system optimization and the construction of large-scale energy enterprise in a professional and modern way. Inner Mongolia Geology and Mineral (Group) will, under the leadership of the autonomous region government, practically perform its duties of shareholder, and support the development of the reorganized Inner Mongolia Mining (Group) as always. And also they will work together with Shandong Energy Group to promote the industry layout optimization, increase core competitiveness, perfect enterprise management system, improve economic benefit and realize leapfrog development.

In the presence of the leaders at the meeting, Li Xiyong, Hu Ziqin, the Deputy Party Secretary and the General Manager of Inner Mongolia Geology and Mineral (Group) and Ma Lin, the Party Secretary and Chairman of Inner Mongolia Mining (Group) signed the capital increase agreement. 

Zhou Hong, the member of the CPC Standing Committee, the Chief Auditor and the Director of CPC Organization Department (Human Resource Department) of Shandong Energy Group, Yin Mingde, the Consultant of Shandong Energy Group and the head of related departments attended the ceremony.