PER ENERGY suggests integrating the Xiejiahegou Coal Mine and the Youyi Coal Mine

JiuTai BangDa Energy (02798.HK) announced that, after considering current regulations, market and economic conditions, business alliances, and strategic priorities, it has abandoned the earlier proposal to integrate the Xiejiahegou Coal Mine, Wantian Coal Mine, and Youyi Coal Mine. The latest proposal is to integrate the Xiejiahegou Coal Mine and Youyi Coal Mine, with the former being indirectly wholly owned by the company and the latter owned by Huaneng Jiayuan.

The company stated that after the proposed integration is completed, the integrated coal mine will operate under the name of Xiejiahegou Coal Mine, while Youyi Coal Mine will no longer exist. After obtaining the necessary statutory approvals, Xiejiahegou Coal Mine will apply to the relevant authorities to increase its approved annual production capacity from 450,000 tons to 1.2 million tons.

In addition, the Jieji Coal Mine, wholly owned by Huaneng Jiayuan, is currently idle and has not yet been developed, and no mining operations have been initiated to date. Therefore, Huaneng Jiayuan and the company plan to explore potential opportunities for its development and operation, subject to feasibility assessments and required regulatory approvals