Having previously signed a five-year strategic cooperation agreement with Shanxi Province-based coal company Yangquan Coal Industry (Group) Co., Ltd, Liaoning Province-based Chinese steelmaker Angang Steel Company Limited has lately also signed a coal purchase contract with Chinese mining company Huaibei Mining (Group) Co., Ltd. According to the contract, in the 2011-2015 period Angang Steel will buy at least 1 million mt of coal from Huaibei Mining (Group) each year.
In 2007, Angang Steel first started to purchase refined coal from Huaibei Mining. The annual refined coal supply volume increased from 20,000 mt in 2007 to 0.3 million mt in 2009. In 2010, the volume increased to 0.5 million mt per year. The new contract with Huaibei Mining will lower Angang Steel's dependency on imported coals.