Seattle, Washington-based coal miner and distributor L&L Energy, Inc. announced Monday that it has entered into two purchase contracts to supply 700,000 tons of coal to China-based Kunming Iron & Steel Group Co., Ltd (KISC).
The first purchase contract will provide 300,000 tons of coal mined from L&L's China operation sold via L&L subsidiary KMC to KISC over a 12-month period. The second contract will be for an additional 400,000 tons of coal from L&L's US operation when coal is available.
KISC is the largest iron and steel producer in Yunnan Province, with over $2.6 billion in assets and more than $1 billion in revenues in 2010. KISC exports its steel products to Germany, Japan, and Singapore.
In addition to mines and distribution centers in the Yunnan and Guizhou Provinces of China, L&L Energy is expanding its US operations with the Bowie Mine in Colorado.