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China Coal Energy

The core businesses of China Coal, are coal production, coal chemicals and coal-bed methane exploration, mine building and coal mining equipment manufacture. It was spun off from the Ministry of Coal Industry in 1999, and held a HK$15.1 billion initial public offering in Hong Kong in 2006. In 2008, it raised 25.7 billion yuan through an IPO in Shanghai.

SouthGobi Resources’ coal mine in Mongolia. Photo: Eric Ng

Arrest of China-controlled Mongolian miner’s chairman hits shares

Shares of Mongolian coking coal miner SouthGobi Resources, controlled by sovereign wealth fund China Investment Corp (CIC), tumbled by as much as 13.6 per cent after revealing its chairman and chief executive Aminbuhe was detained in Shandong province to assist in a fraudulent loan investigation.

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