Kailuan shares increase 40 million U.S. dollars to develop overseas coal

Kailuan shares (600997) the development of coal resources in Canada is further intensified. Kailuan shares announced today, August 10, 2010, the company and China Shougang International Trade Engineering Company, Canada Tak Wah International Mining Group signed the "Development of Canada Geisen Coalfield Project Cooperation Agreement" to jointly invest in the development of Geisen coalfield, Canada. August 10, the company's wholly-owned subsidiary of Canada and Investment Co., Ltd. and Hebei Iron and steel Group and the German-Chinese company signed the "Cooperation on the development of the Canadian Moyu Hebei Coal Field Agreement" to jointly invest in the exploration of Moyu, Hebei Coal field.　　To this end, the company intends to increase the capital of 40 million U.S. dollars, and through the Chinese and foreign investment of 64.2867 million U.S. dollars, by its joint venture to develop Geisen coalfield and the Moyu of Hebei coalfield.　　Kailuan shares that the rapid development of the company's coal chemical industry needs a large number of coking coal resources for protection, the company this time and the company and joint venture to develop Canadian coal resources, is conducive to increase the company's coal resources reserves, improve the company's coal industry scale, and then realize the company's energy and chemical development　　Meanwhile, in the first half of 2010, the company realized operating income of 7.154 billion yuan, an increase of 77.45% per cent over a year earlier, and a net profit of 421 million yuan for shareholders in the parent company, up 4.19% from a year earlier, according to a semi-annual report released today by the Kailuan shares. In the semi-annual report, Kailuan shares said that the company actively promote the expansion of coal resources and integration of development work, take the initiative to participate in domestic coal resources integration, in-depth analysis of the Canadian Gething coalfield exploration data, do a good job in the follow-up development base preparation.　　During the reporting period, the company produced 4.0894 million tonnes of raw coal, which grew by 5.57% compared with a year earlier, with 1.5871 million tonnes of clean coal, up 12.27% from a year earlier, and 910,900 tonnes of clean coal, compared with 14.97% in the same period a year earlier. In addition, the company intends to Tangshan China-Hao Chemical Co., Ltd. to increase the capital of 1.544 billion yuan, and authorized the general manager of the project according to the progress and capital requirements of the legal process of investment matters. After the completion of the increase in capital, Tangshan Hao Company registered capital into 1.694 billion yuan, still a wholly owned subsidiary of the company.