Taiyuan Province-based Puda Coal, Inc., one of China's major coking coal and metallurgical coke producers, has announced the purchase of a new mine, Jingle Muguashan Coal Mine, at a cost of RMB 460 million ($60.7 million).
Jingle Muguashan Coal Mine, is located in the county of Jingle in Taiyuan Province, around 100 kilometers distant from Puda Coal's headquarters. The mine holds approximately 55.6 million metric tons of raw coal reserves, which can be used as high quality thermal coal or blended coking coal. Puda Coal plans to commence mining operations at this mine in 2008.