Shanxi Coking Coal Group, China's largest producer of the steelmaking material, signed strategic cooperation framework agreement and memorandum of understanding for import purchase with two foreign firms at the second China International Import Expo held in Shanghai on November 5, the firm said in a statement on its website.
Shanxi Coking Coal will buy coking coal from Mongolian Mining Corporation, and the two sides also will carry out extensive exchanges and cooperation on production, washing and processing of the key ingredient, according to the statement.
Shanxi Coking Coal Guofa Co., Ltd., one subsidiary of Shanxi Coking Coal Group, also inked import contract with Joy Global Inc at the expo.
Joy Global Inc. was a US-headquartered company that manufactured and serviced heavy equipment used in the extraction and haulage of coal and minerals in both underground and surface mining. The company had manufacturing facilities in Alabama, Texas, Wisconsin, Australia, Canada, China, France, South Africa and the United Kingdom. In 2017, Joy Global was acquired by Komatsu Limited based in Japan and was renamed Komatsu Mining Corp.
No more details were unveiled on import volume or price, which the Chinese energy giant may elaborate on later.
In 2018, raw coal production by Shanxi Coking Coal ticked up 11.1% from a year earlier to 100 million tonnes, ranking seventh in China, showed data from China National Coal Association.
The CIIE, first held in Shanghai in 2018, serves to offer businesses around the world opportunities to enter the Chinese market. Its 2nd edition opened on November 5 in Shanghai and will run through November 10.
(Writing by Jessie Jia Editing by Harry Huo)
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