Florida, US-based SinoCoking Coal and Coke Chemical Industries, Inc, a coking coal producer with assets in China on July 8 announced that on July 6, 2010, the provincial government of Henan Province granted Pingdingshan Hongli Coal & Coke Co. Ltd, the principal Chinese operating subsidiary of SinoCoking, coal mine consolidator status within Baofeng County.
Earlier in June this year, SinoCoking announced that it had received approval from the city of Pingdingshan and Baofeng County to acquire smaller mining companies or their mining assets. On July 6, the company for the first time received approval from the provincial authorities to act as a coal mine consolidator.
SinoCoking's management expects that if all 22 of the presently contemplated mining company acquisitions are completed, the company's overall coal production capacity will reach an estimated 3.45 million mt per year.