TAIYUAN, China, April 4, 2011 /PRNewswire-Asia/ -- Puda Coal, Inc. (NYSE Amex: PUDA) ("Puda Coal" or the "Company"), a supplier of high grade metallurgical coking coal used to produce coke for steel manufacturing in China and consolidator of nine coal mines in Pinglu County Yuncheng City ("Pinglu Project") and four coking coal mines in Huozhou County Linfen City ("Jianhe Project") in Shanxi Province, today announced that Bloomberg TV aired a segment on March 27, 2011 focused on China's coal energy sector.
The Bloomberg TV segment featured footage of Puda Coal's coal mining operations at the Company's Pinglu Phase I and Phase II projects in Shaanxi Province and was shot during Puda Coal's first investor event for media, analysts and institutional investors on March 24, 2011. The segment also featured comments from Puda Coal's CFO, Ms. Laby Wu, who emphasized that Puda Coal is committed to supplying high quality raw coal to its customers and helping China in its efforts to reduce overall carbon emissions and to protect the environment.
The segment can be viewed using the following link: http://www.pudacoalinc.com/landing.html
About Puda Coal, Inc.
Puda Coal, through its subsidiaries, supplies premium high grade metallurgical coking coal used to produce coke for steel manufacturing in China. The Company currently possesses 3.5 million metric tons of annual coking coal capacity. The Company is in the process of adding coal mining operations to its business, as an acquirer and consolidator and acquirer of coal mines in Shanxi Province. On September 30, 2009, Shanxi Coal, a 90% indirect subsidiary of the Company, was appointed by the Shanxi provincial government as an acquirer and consolidator of eight thermal coal mines located Pinglu County in southern Shanxi Province. Shanxi Coal plans to consolidate the nine coal mines into five, increasing their total annual capacity from approximately 1.1 million to 3.6 million metric tons. Shanxi Coal received another approval by the Shanxi provincial government to consolidate four additional coking coal mines into one coal mine in Huozhou County. After the completion of the consolidation, the Jianhe project is expected to increase the total annual capacity from 720,000 metric tons to 900,000 metric tons, according to the Shanxi provincial government's approval. For more information, please visit http://www.pudacoalinc.com.
Forward Looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. For example, our plan to become an integrated coal washing and coal mining company is subject to, among other things, the risks and uncertainties relating to the market, geological and construction conditions, which are beyond our control, as well as our management's ability and capacity to manage the coal mine operations, which are new to our business. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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Investor Relations Contact: |
Company Contact: |
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Crocker Coulson, President |
Laby Wu, Chief Financial Officer, Director of Investor Relations |
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CCG Investor Relations |
Puda Coal, Inc. |
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+1-646-213-1915 |
+86-10-6439-2405 |
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Elaine Ketchmere, Partner |
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+1-310-954-1345 |
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