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UPDATE 1-L&L Energy to sell coal to Chinese co; shares soar
April 5, 2012 / 1:57 PM / 6 years ago

UPDATE 1-L&L Energy to sell coal to Chinese co; shares soar

April 5 (Reuters) - U.S.-based coal miner L&L Energy Inc said it has signed a contract with China’s Datang International Power Generation Co to sell thermal coal, in a deal which is expected to generate about $31 million in revenue.

L&L Energy shares were trading up 19 percent at $3.00 on Thursday morning on the Nasdaq.

Under the agreement, L&L’s wholesale unit in Guizhou province will provide 20,000 tons of thermal coal per month for a year to Datang’s power plant.

Datang has about 100 subsidiaries in over 18 provinces in China.

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