L & L Energy Signs Commitment Document with a Major China Port to Establish a Large Coal Blending and Distribution Center
SEATTLE, Jan. 21, 2011 /PRNewswire/ — L & L Energy, Inc. (Nasdaq: LLEN) (“L&L” or the “Company”), a U.S.-based company founded in 1995 with coal mining and distribution businesses in China, announced today that on January 19, 2011, L&L entered into a commitment document with Zhanjiang Port (Group) Co. Ltd (“the Port”), the largest public port inside the Zhanjiang Harbor (“the Harbor”), to conduct a feasibility study working towards establishing a large coal blending and distribution center inside the Harbor. The Harbor is owned by the city government of Zhanjiang and is located in the Guangdong Province in South China. The blending and distribution center at the Harbor would play an important role for L&L’s operations and sales growth in western China. Following this agreement, a formal delegation consisting of the Port management and Zhanjiang city government officials will visit L&L’s U.S. operations to move the coal blending and distribution project forward.
“After three days of onsite meetings at Zhanjiang Harbor with the Port management and government officials, we are excited to enter into written documents to move this coal project forward. Establishing a large blending and distribution center inside Zhanjiang Harbor gives us a strategic opportunity to better serve our customers from both sides of the Pacific Ocean,” commented Mr. Dickson Lee, Chairman and CEO. “Moving this project forward and continuing to grow our coal businesses by maximizing our resources will enable us to become a leader in China’s coal industry.”
About L & L Energy
L & L Energy (Nasdaq: LLEN) was founded in 1995, is headquartered in Seattle, and is engaged in coal mining, washing, coking and distribution in Yunnan and Guizhou Provinces and is expanding its coal operations in the U.S. with the Bowie Mine in Colorado. The Company has additional offices in Kunming, Shenzhen, Guangzhou, Hong Kong, and Taipei and produces thermal and metallurgical coals. For more information, see www.llenergyinc.com.
The statements contained words that are not historical fact, including statements related to Company’s future performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties. Actual results of the future events described in this document could differ materially due to numerous factors and other made by the company filing with the Securities and Exchange Commission. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
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SOURCE L & L Energy, Inc.