TOKYO (Thomson Financial) - Japanese trading house Mitsubishi Corp has acquired a 0.2 percent stake in China Shenhua Energy Co, the world's largest coal mining company in terms of production volume, in order to expand its natural resources business in China, the Nikkei newspaper reported yesterday.
The purchase price for the minority stake was 15 billion yen, the business daily said.
The trading house imports about 2 million tons of coal produced by the Chinese company each year, the report said.
In addition, the two companies aim to broaden cooperation in emissions credit trading, the treatment of wastewater from coal mines and the installation of energy efficient devices at mines, it said.
(1 US dollar = 114.85 yen)
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