The merger is anticipated to be completed in and around December of 2009, and reportedly it will enable L&L to serve the growing demand for coal and energy supply in China. Upon completion of the merger, the mine would add an additional, estimated $19 million in revenue to L&L in one year, using $130 per ton as an average coal price.
Dickson Lee, president and CEO of L & L, said: “We are looking forward to cementing this very productive relationship with the Ping Yi Coal Mine and will communicate more details as the merger approaches.”
