L&L Energy Inc. (NASDAQ:LLEN) announced it has signed a deal to market and sell coal in China.
As quoted in the press release:
DaXing- L&L (Guizhou) Coal Inc., a new L&L wholly owned coal subsidiary based at L&L’s Hong Gou office, entered the joint sales agreement with China Chengtong Metal Tianjin Company, a wholly owned subsidiary of CCMC, a large China state owned enterprise specializing in coal and metal trading throughout the north China and inner Mongolia markets.
L&L Energy’s Chairman and CEO, Dickson Lee said:
We expect this agreement to result in selling 1 million tons of coal in calendar 2012, with similar revenue impact in the subsequent years to come.