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  • L&L Energy, Inc. (LLEN) Signs Long Term Joint Sales Agreement with Tianjin Fuhao to Sell One Million Tons of Coal in China 0 comments
    Dec 9, 2011 10:26 AM | about stocks: LLEN
    L&L Energy, Inc., a U.S. based coal company focused on high margin coal operations in the People’s Republic of China, today announced it has entered into a joint sales and marketing agreement with its strategic partner Tianjin Fuhao Industrial Co. Ltd., a major coal wholesale company with extensive resources in trade and logistics. Starting in February 2012, Tianjin Fuhao will jointly sell/market with L&L and its China subsidiaries one million tons of both coking and thermal coal in China during calendar year 2012.

    This is the second one million ton strategic marketing partnership for L&L this week. Earlier, L&L’s DaXing subsidiary announced a deal with China Chengtong Metal Tianjin Company to jointly source and sell coal. The two deals are estimated to generate $300 million in revenues with $150 per ton coal price.

    “Our newly established wholesale operations have hit the ground running by securing two sales contracts representing an aggregate of two-million tons in calendar 2012. If fully executed, the agreements would significantly increase revenues and expand our coal markets on a national level. The wholesale operation is a good compliment to future acquisitions and partnerships. We look forward to working with CCMC and Tianjin Fuhao for many years to come, the synergies and the shared resources will continue to stimulate growth for all three companies,” said Clayton Fong, Executive Vice President, L&L in a press release.

    Since 1995, L&L has used its extensive knowledge in U.S. accounting practices, mining safety practices, M&A techniques and bilingual experts to operate profitable coal mines, coal wholesale, coking and coal washing facilities in Yunnan and Guizhou Provinces in China. The company has interests in the Bowie Mine in Colorado which it uses to learn techniques for mine safety and operational practices in China. L&L is positioned to be a multinational operation.

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    Stocks: LLEN
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