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Dec 01st
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(601168) WESTERN MINING CO. LTD Due to the fact that there was an increase in the price of coal which the company had bought from Xihai Coal Electricity Group Co., Ltd., a related party of Western Mining Group Co., Ltd., the company's controlling shareholder, in compliance with related agreements signed between the company and Xihai Coal Electricity, the company's Tanghu electricity branch will pay an additional RMB 39.49 mln in a related-party transaction, increasing the transaction value to RMB 85.49 mln from the original RMB 46 mln.Three companies, including Qinghai Western Magnesium Technology Development Co., Ltd., a related party of Western Mining Group, have been working in the Xitieshan area since 2008 with water, electricity and heat consumed in their routine operations supplied by the Xitieshan power branch of Western Mining Group. Based on local rates, the rates for water, electricity and heat were calculated respectively at RMB 1.75 per ton, RMB 0.48 per degree and RMB 10.00 per unit, thus inducing an additional RMB 317,800 of costs in its 2008 daily related-party transactions. Board of Directors 3 Sept 2008 Source: Shanghai Stock Exchange Date: 3 Sept 2008 CN01/SC/DM/BT/KM Newsnchina.com |
Sectors
Mining & Metals
Zhang Yanqing Elected General Manager
(600001) HANDAN IRON & STEEL CO.,LTD
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Banking & Finance
Nine month 2008 Financial Report Approved
A detailed report, dated 24 Nov
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Technology
RMB 41.98 Mln Conveyor Systems to be Supplied
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Real Estate
CSRC Approved Corporate Bonds Issuance
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