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L&L Energy to sell coal to Chinese co; shares soar
April 5, 2012 / 2:02 PM / in 6 years

L&L Energy to sell coal to Chinese co; shares soar

(Reuters) - U.S.-based coal miner L&L Energy Inc LLEN.O said it has signed a contract with China’s Datang International Power Generation Co (601991.SS) 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.

    Reporting by Vaishnavi Bala in Bangalore; Editing by Supriya Kurane

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