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Yanzhou Coal Mining(YZC) engages in mining, preparation, sale and railway transportation of coal. The company own and operates six coalmines and through its subsidiaries has interest in coalmines in China and Australia. Yanzhou's product line includes thermal coal, semi-soft coking coal and semi-hard coking coal. The stock gained 11.5% during the past one month.
Yanzhou recently participated and won in a bid for acquiring mining rights in a coalmine zone in China through its unit Yanzhou Coal Ordos Neng Hua. The board approved to bid for the coal field for a value not exceeding $1.3 billion. The Zhuanlongwan coalmine, which is located in the Dongsheng coal field in Inner Mongolia, has total coal reserves of 548 million tonnes and is designed to produce 5 million tonnes of coal every year.
Yanzhou's parent company Yankuang Group is targeting to produce 80 million tonnes of coal in 2011, compared to 60 million tonnes in 2010. Furthermore, Yanzhou's chairman said the company is seeking to increase annual coal output to 150 million tonnes by 2015 and expects to generate $18.2 billion in sales revenue and $4.9 billion in pre-tax profit in 2015. The company plans to launch a group listing in 2011.