Top officials of the China National Coal Group Corporation recently visited Chinese steelmaker Shagang and inked a framework agreement for strategic cooperation as well as a five-year supply contract with this mill.
China National Coal Group Corporation is one of the key state-owned enterprises under the State-owned Assets Supervision and Administration Commission of the State Council, with its core businesses of coal production and trade, coal chemical, coal-bed methane exploration, coal mine construction, coal mining equipment manufacturing and relevant engineering technical services. In 2008, China Coal posted sales revenues of RMB 71.9 billion ($10.53 billion) and a net profit of RMB 11.3 billion ($1.66 billion), with coal production totaling at 114.11 million mt.