Trade Resources Industry Views CoAL Announces That It Received $80 Million in Payment From China-Based Coal Producer HEI

CoAL Announces That It Received $80 Million in Payment From China-Based Coal Producer HEI

South Africa-based coal company Coal of Africa Limited (CoAL) has announced that it has received $80 million in payment from China-based coal producer Haohua Energy International (HEI), a wholly-owned subsidiary of Beijing Haohua Energy Resource (BHE), as part of a share subscription agreement, following the requisite regulatory approvals from the Australian Foreign Investment Review Board and the authorities in China.

In November 2012, CoAL received the initial payment of $20 million that formed part of the $100 million investment by HEI in CoAL.

Source: http://www.steelorbis.com/steel-news/latest-news/coal-of-africa-receives-remaining-payment-from-chinese-coal-producer-739043.htm
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Coal of Africa Receives Remaining Payment From Chinese Coal Producer
Topics: Metallurgy