China Shenhua Energy has been in talks over acquiring a Mongolian coal mine, according to Huang Qing, the secretary of the coal company's board of directors, China Business Net reported (in Chinese). The mine, which has a potential capacity of 10 million metric tons of coking coal, is in Mongolia's southern Gobi province 100 kilometers from China's border. It would become Shenhua's first overseas project if it wins the bid, said Huang. Shenhua held its mainland initial public offering in September, raising US$8.9 billion.
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