L & L Energy to Supply Coal to KISC
The first purchase contract will provide 300,000 tons of coal mined from L&L's China operation sold via L&L subsidiary KMC to KISC over a 12-month period.
The second contract will be for an additional 400,000 tons of US coal from L&L's US operation when coal is available, said L & L Energy.
According to L & L Energy, the contract signing ceremony was held on April 14, 2011 during the US investors visit days in L&L China operational headquarters at Kunming, China by the executives of both L&L and KISC.
KISC is a long term customer of L&L, and the largest iron and steel producer in Yunnan Province, with 30,000 employees, over $2.6 billion in assets and more than $1 billion in revenues in 2010. KISC exports its steel products to Germany, Japan, and Singapore.
L & L Energy is engaged in coal mining, washing, coking and distribution in Yunnan and Guizhou Provinces, and is expanding its coal operations in the US with the Bowie Mine in Colorado. The company has operations and offices in Kunming, Guizhou, Shenzhen, Guangzhou, Hong Kong, and Taipei and produces thermal and metallurgical coals.
Ed Moy, vice president of L&L Energy, said: â€œWe are very pleased to extend our sales with KISC and look forward to continuing our long term relationship with Yunnan's largest iron and steel producer.â€
Will the deal benefit KISC?
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