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July 19, 2012 /PRNewswire/ -- L&L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or "Company"), a
Seattle-based company with a track record of profitable coal operations in
China, announced that the Company's recently constructed Weishe Mine, located in the
Guizhou Province, ("Weishe" or "the Mine") has passed its final safety inspection and is to receive its license for full scale coal production.
February 2012, regulators have been performing inspections on Weishe's shaft construction, air ventilation, safety equipment and coal extraction practices to ensure the newly constructed mine meets various new safety standards. In
June 2012, Weishe was designated a model mine by the HeZhang County government for its modern design, safety equipment, and management practices. The Mine's initial approved production rate is 150,000 tons per annum and can be expand to 450,000 tons after additional improvements. Coal from Weishe will be sent via L&L's wholesale and logistics platform in to its end users, bringing additional profits to the Company.
"This is another strong step forward for L&L," commented Dr.
Syd Peng, Ph.D., L&L Director. "The on schedule completion of the construction and safety inspections at Weishe, our first project with Union Energy, represents an important milestone in our relationship. We continue to work toward the effective execution of our consolidation strategy and intend to repeat the successes of Weishe as we seek to further upgrade our mining portfolio for expanded operations."
Forward Looking Statements The statements contained words that are not historical fact, including statements related to Company's future performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and that involve a number uncertainties. Actual results of the future events described in this document could differ materially. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Contacts: L&L Energy Inc.(206)-264-8065
SOURCE L & L Energy, Inc.