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Guizhou Guochuang Energy Holding Group
|This article is part of the CoalSwarm coverage of China and coal|
Guizhou Guochuang Energy Holding is a China-based company "primarily engaged in research, development, manufacture and sale of sanitary ceramic products," according to Reuters.
U.S. coal interests
On May 7, 2012, Guizhou Guochuang Energy Holding Group said it had raised 3.9 billion yuan ($616 million) in a private placement to be used mainly to acquire and develop Triple H Coal Company of Tennessee, making it the first Chinese company to invest in coal in the U.S. Guochuang said Triple H Coal has five mining permit applications awaiting approval, and the company plans to build five new mines with 1 million tons of capacity each after the acquisition, which will have annual production capacity of 5 million tons of coking coal.
Guochuang also said that a wholly owned subsidiary, Jiangsu Dipu Mining Investment Co., would acquire a full stake in Treasure Port International Limited (TPI) for up to $10 million. In March 2011, TPI had acquired Triple H Coal, mainly funded by borrowing from Questmark Mining Rights Investment Fund.