CITY OF INDUSTRY, Calif., Feb. 28, 2011 /PRNewswire/ -- US China Mining Group, Inc., ("US China Mining") (OTC Bulletin Board: SGZH) a Chinese leader in coal production and exploration in the People's Republic of China, announced today it has retained HC International, Inc. ("HC International") as its strategic investor relations advisor.
HC International will assist US China Mining with communicating its value proposition to shareholders and investors, while broadening its presence in the financial markets. Matthew Hayden, Ted Haberfield, and the HC International team will be advising the Company in all facets of corporate and financial communications.
"After careful review, we have selected HC International to provide us with a comprehensive investor relations and corporate communications strategy," said Mr. Hongwen Li, President of US China Mining Group. "We are confident that the respected team at HC International will provide strong support in conveying our business model, growth strategy and value proposition to shareholders, while helping to enhance our visibility to the investment community at large."
"US China Mining's focused business model positions the Company to significantly benefit from the rising demand for thermal coal in China," said Matthew Hayden, President of HC International, Inc. "US China Mining has 3 mines located in Northeast China, where it has limited competition due to the geographic location, with approximately 25 years of proven reserves. With over $50 million in cash and a business that generates significant cash flows, the Company is well positioned to capitalize on industry consolidation by targeting the purchase of additional coal assets at attractive valuations. The coal sorting business, which commenced at the end of 2010 is also expected to become a more meaningful revenue contributor in 2011 and will complement internal coal production and coal trading to meet growing customer demand. We look forward to working closely with the management team to implement an investor communications and marketing strategy which will help elevate the Company's position in the public markets."
About US China Mining Group
US China Mining Group is a company engaged in coal production and sales by exploring, assembling, assessing, permitting, developing and mining coal properties in the People's Republic of China ("PRC"). After obtaining permits from the Heilongjiang Province National Land and Resources Administration Bureau and the Heilongjiang Economic and Trade Commission, we extract coal from properties to which we have the right to mine capped amounts of coal, and then sell most of the coal on a per metric ton ("ton") basis in cash on delivery, primarily to power plants, cement factories, wholesalers and individuals for home heating. We do not own the coal mines, but have mining rights to extract a capped amount of coal from a mine as determined by government authorized mining engineers and approved by the Heilongjiang Department of Land and Resources. Our business consists of the operations of Tong Gong coal mine in northern PRC, located approximately 175 km southwest of the city of Heihe in the Heilongjiang Province and the Hong Yuan and Sheng Yu coal mines located in the city of Mohe in Heilongjiang Province.
Safe Harbor Statement
This press release contains certain statements that may include 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believe, expect, anticipate, optimistic, intend, will" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risks and other factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
SOURCE US China Mining Group, Inc.