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HONG KONG, Jan 21, 2011 - (ACN Newswire) - The board (the "Board") of the directors (the "Directors") of Kaisun Energy Group Limited (the "Company"; SEHK:8203) is pleased to announce that on 21 January, 2011, the Company and Xinjiang Uygur Autonomous Region Coal Geology Bureau have entered into a 3 year strategic cooperation framework agreement (the "Cooperation Agreement") pursuant to which the parties, in order to develop a close and strategic cooperation relationship to explore the coal mining industry, the parties will sufficiently cooperate with each other.
Leveraging Kaisun's proven operating model and Xingjian Bureau's expertise in exploration; the partnership will cooperatively explore and develop mining resources both in and outside China.
Mr. Joseph Chan, Chairman of Kaisun Energy, said, "Our new partnership with Xinjiang Coal Bureau brings to the table over 55 years of mining history in the region. We have a great respect for our partner's legacy in China, and we are both very excited about opportunities in Central Asia and in China. We are already expanding in Central Asia and Inner-Mongolia, successfully implementing our integrated coal production model. Xinjiang' Coal Bureau's network and history in the region will be vital in our expansion plans."
Details of the announcement and terms can be found at www.8203.com.hk under "Announcements" section.
About Xinjiang Uygur Autonomous Region Coal Geology Bureau
Xinjiang Uygur Autonomous Region Coal Geology Bureau was established in 1956 and is Xinjiang Uyghur Autonomous Region's professional geological exploration unit. The Bureau operates the 156 coal geology exploration team and the 161 coal geology exploration team, a comprehensive geologic survey team, a coal research centre, a comprehensive coal survey centre, a coal geology information centre, a comprehensive laboratory, a coal-bed methane (CBM) research and development centre, a CBM testing centre and the Bureau's service centre etc. which totals about 10 geology exploration and research units. Xinjiang Bureau achieved remarkable results in areas of coal geology survey, geophysical exploration, CBM survey and evaluation, surveying & mapping, coal research, chemical processing of coal, coal quality evaluation and analysis, The Bureau had discovered 1.82 trillion tonnes of potential shallowcoal reserve up to 2000m depth in 3 coal field reserve test in Xinjiang Uygur Autonomous Region.
Contact:
Strategic Financial Relations Limited
Keris Leung
Keris.Leung@sprg.com.hk
Tel: +852-2864-4863
Sujida Lee
Sujida.Lee@sprg.com.hk
Tel: +852-2114-4901
Topic: Business Tieup
Source: Kaisun Energy Group
Sectors: Metals & Mining
https://www.acnnewswire.com
From the Asia Corporate News Network
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