2 coal mines of China CBM Gp (HKG:0578) suspended


China CBM Group (00578.HK) announced that Henan Jinfeng Coal Industrial Group Company Limited (Jinfeng) has received notification from the relevant government authority that one of the coal mines owned by Jinfeng, i.e. Xingyun Coal Mine, need to be suspended in production and operation with immediate effect due to the seasonal river flooding which caused the accumulation of water in part of the coal mine area and may affect the safety production. The coal mine can only be resumed upon safety inspection is completed.

China CBM said that as at 28 November 2011, two of the five coal mines owned by Jinfeng are still in the stage of suspension, i.e. Xingyun Coal Mine and Xiangyang Coal Mine. As there is no indication from the government's notifications for the duration of the suspension of coal mines, the board of China CBM is currently unable to ascertain the impact of the suspensions on the company's operation and financial position.



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