L&L Energy (LLEN) Wins Two Contracts to Supply Metallurgical Coal to Kunming Iron & Steel
L&L Energy is in the business of coal mining, washing, coking and distribution of coal in the Yunnan and Guizhou Provinces in China. The company produces both metallurgical and thermal coal and showed impressive net income growth of 230% over the previous fiscal year.
The company announced today that it entered into two purchase contracts, supplying a total of 700,000 tons of coal to Kunming Iron & Steel Group Limited of China. Kunming is a long-term customer of L&L and is the largest iron and steel producer in Yunnan Province. It has 30,000 employees and reported more than $1 billion in revenues in 2010. Kunming exports its steel products to Germany, Japan and Singapore.
The first purchase contract will provide 300,000 tons of coal mined from L&L’s Chinese coal mines and sold to Kunming over a 12-month period. The second contract will be for an additional 400,000 tons of US coal from the company’s operations at the Bowie Mine in Colorado, when the coal becomes available for shipment.
Needless to say, L&L Energy is pleased to be awarded the contracts. The company said it looks forward to continuing its long-term relationship with Yunnan’s biggest iron and steel producer. For further information about L&L Energy, please visit the company’s website at llenergyinc.com
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