New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
September 20, 2011
15:16 EDTSCOKSinoCoking Coal plans to issue detailed response to negative blog posts
SinoCoking Coal and Coke Chemical Industries said that it plans to issue a shareholder letter to address and respond to each of the allegations made in a negative blog report published by a disclosed short-seller. The company said it will notify shareholders when the forthcoming letter has been posted via a press release.
News For SCOK From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
March 16, 2015
09:31 EDTSCOKSinoCoking Coal second phase of UCG Technology upgraded
SinoCoking Coal announced that its Underground Coal Gasification, or UCG, technology has been upgraded and will be applied to Henan Hongchang Coal mine with 50% capital saving. Compared to the first phase UCG Technology Demonstration project, the second phase UCG project not only enjoys similar government benefits, but has the following four advantages: The second phase will be built at the site of the company's Hongchang mine with its existing coal facilities, which results in saving of about 50 percent in capital investment. The blended process will be applied to the second phase, and it will produce coal and syngas simultaneously. This is different from the first phase of UCG, which processes utilizing non-well technology to produce only syngas. The blended technology is so far the most efficient technology to exploit the underground coal resources. The blended technology may be applied to other mines in Henan province. The company will launch the second phase of the UCG project through its wholly-owned subsidiary, Baofeng Hongchang Coal Co., Ltd., with existing coal operations in Baofeng County. The company said this second phase of the UCG project is scheduled to begin construction in April 2015 and will be operational within four months. At peak capacity, Baofeng Hongchang Coal is expected to achieve syngas-related coal production of 12,000 tons/month and syngas production of 120,000 cubic meters/hour. As previously announced, the first phase of SinoCoking's UCG program, which is expected to be completed later this month, had qualified as a State Scientific Demonstration project in January 2015. Like the first phase, the second phase of UCG project in Baofeng County will be entitled to receive a series of benefits and financial support from the government, including 30% reimbursement of total capital investment, 25% refunds for taxes paid to local and state tax authorities, and access to coal for gasification purposes in Baofeng County's 37 square kilometers of coal reserves. SinoCoking management's long-term UCG plan is to apply the blended UCG technology to SCOK'S other mines over the next 2 years. SCOK also plans to introduce its blended UCG technology to other companies' mines in Henan province in the future with total syngas production capacity of 21 million cubic meters per hour from a full industrial scale.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use