Japan’s Mitsui signs business pact with China’s Shenhua Group

14 September 2010 06:19  [Source: ICIS news]

SINGAPORE (ICIS)--Japanese trading house Mitsui & Co said on Tuesday it has signed a comprehensive business alliance deal with China’s coal major Shenhua Group Corp.

The deal was aimed at expanding coal trading to Japan and China and would include joint development of coal mines overseas, it said.

A collaboration of the two companies’ coal chemical business was also covered in the agreement, as well as development of environmental and efficient energy-use business, Mitsui said.

No financial details of the deal were provided.

Mitsui said it has been marketing Shenhua’s thermal coal to Japan over the last 10 years.

Shenhua is the biggest coal producer in the world with annual production pegged at 330m tonnes/year, based on Mitsui's statement.

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By: Nurluqman Suratman



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