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On November 7, Hubei Yihua Group announced that its controlling subsidiary, Guizhou Yihua Chemical Co., Ltd. has acquired the Hengtai Coal Mine and Ruixin Coal in Qianxinan Prefecture of Guizhou Province for 110 million yuan and 40 million yuan respectively. The entire assets of the industry. Hengtai Coal Mine currently produces 300,000 tons of raw coal per year and will expand production to 600,000 tons next year; Ruixin Coal is expected to reach a scale of 450,000 tons next year. Yihua Group stated that the two acquisitions not only ensured the production of coal for Guizhou Yihua's synthetic ammonia and urea projects, but also brought huge profits to the company.
Guangxi Liuzhou Chemical Industry Co., Ltd. disclosed on November 6th that at present, the company has signed the "Xinyi Mining Equity Transfer Contract" with Guizhou Aneng Industrial and Mining Co., Ltd., and Liuhua shares invested RMB 84.7346 million in cash to acquire Anneng Mining. Holding 90% equity of Xinyi Mining. Xinyi Coal Mine's recoverable reserves are about 45.7 million tons, and the total annual output is expected to reach about 900,000 tons. According to reports, Liuhua’s Shell coal gasification project started to plan to acquire coal mines to solve the problem of supply of raw coal after successful investment at the beginning of the year. With this acquisition, one-third of the coal needed by the company will become self-sufficient, and the company's profits will also increase.
Prior to this, after Sichuan Lutianhua Co., Ltd. installed "Gas to Coal" successfully, it extended the coal chemical industry chain to Inner Mongolia. With the completion of the project of producing 200,000 tons of dimethyl ether per year, its plan to acquire local coal resources has also made breakthrough progress. At present, the company has obtained local exploration rights.
According to the reporter’s understanding, a number of leading chemical companies, such as Inner Mongolia Lantai Industrial Co., Ltd. and Hubei Shuanghuan Technology Co., Ltd., have also announced that they have purchased carbon company shares. There are even more coal chemical companies currently trying to do everything possible to get the right coal mines under their command.
The reporter learned that chemical companies began to take the initiative to acquire coal mines, mainly due to two reasons. In the long run, having upstream coal resources is an important guarantee for the development of coal chemical industry. From a realistic point of view, since the beginning of this year, the state has successively implemented a series of macro-control measures that have limited the rapid growth of coal production. The acquisition of coal mines by chemical companies can guarantee the supply of raw materials without fear of food shortage.
Coal industry mergers and acquisitions boom
In recent years, the occurrence of mergers and acquisitions of chemical companies by powerful coal companies has occurred on a regular basis, but this year has seen a “reversalâ€: Chemical companies represented by Hubei Yihua Group Co., Ltd. have recently taken frequent actions and successfully acquired multiple coal mines. There are various indications that the acquisition of coal mines has become a new trend for chemical companies to expand their business and improve the coal chemical industry chain.