Yanzhou Coal Mining [ 29.07 0.28% of shares it research report ] (600188) wholly owned subsidiary of Yanzhou Coal Canada Resources Ltd. for 260 million dollars , Saskatchewan, Canada bought 19 of potassium and mineral resources exploration. The company said the acquisition of China and the Government of Canada has been approved by the competent authority, Yanzhou Coal has completed the Canadian exploration company changed the registration process.
Following the initial establishment of Australia’s coal business in the development of the base, and the establishment of subsidiaries in Canada as a platform for future resource development, international strategy to achieve new progress. Company on July 18 with Canada and Potash Corporation of North Devon Nirvana Atlantic [ 12.36 0.24% share it research report ] K signed a “purchase agreement.” Among them, from Nirvana German potash fertilizer company, and the acquisition of the North Atlantic and eight 11 potash exploration, with a total area of 5363.87 square km.
Saskatchewan’s potash resources accounted for more than half of the world, is Canada’s major mining and potassium fertilizer production base. The company acquired potash permit to be relatively concentrated blocks, with an area of high grade, abundant, stable occurrence, the estimated total potential resources of not less than 39.76 billion tons. Deputy General Manager Zhang said the company was “not limited to, the future will take, do not rule out the introduction of strategic investors, selective extraction, part of the sale, the disposal of a variety of reasonable means.”