SEATTLE, June 17 /PRNewswire-FirstCall/ -- L & L Energy, Inc., ("L&L") (Nasdaq: LLEN), a U.S.-based company operating coal businesses in China, today announced that its third coal washing facility located at L&L's Ping Yi Coal Mining facility ("Ping Yi") with a 600,000 ton annual capacity is operational.
Ping Yi, a profitable coal mine located in Guizhou Province of China, with annual coal mining capacity of 300,000 tons, has constructed this new 600,000 ton coal washing facility using its own capital. It is expected the new washing facility, at full capacity, would generate approximately $78 million in revenue per year, based on a washed coal price of $130 per ton.
Dickson Lee, L&L's CEO, stated, "We are pleased to report another execution of our flourishing business. Operations from this Ping Yi washing facility would bring in higher margins to the existing operations. The opening of this third washing facility represents another step to increasing our market share and becoming a leading coal producer in China."
About L & L Energy, Inc.
Founded in 1995 and headquartered in Seattle, L&L (http://www.LLEnergyInc.com) focuses on serving the vast energy needs of the Chinese market. L&L's China operations are headquartered in Kunming City of Yunnan Province, which operates three coal mines, three coal washing facilities, a coking facility, and a coal wholesale network in both Yunnan and Guizhou Provinces of China. Marketing offices are also located in Shenzhen and Guangzhou of Guangdou Province and Taipei, Taiwan.
The statements contained words that are not historical fact, including but not limited to, 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.
RedChip Companies, Inc.
BPC Financial Marketing
SOURCE L & L Energy, Inc.