Recently, in order to respond to the national initiative "The Belt & Road ", implement the strategic of "Two Businesses" of China Coal Group, and effectively promote the overseas business development of the China National Coal Development Company (CNCDC), it was decided that Sunfield Resources would be incorporated into the CNCDC based on the relevant regulations of the China National Coal Group Corporation.
After Sunfield Resources is incorporated into CNCDC, it will take advantage of the project opportunities provided by the China National Coal Development Company as Sunfield Resources is familiar with the laws of Australia, the local market environment and has the ability of resource integration and strong local liaison. Furtherly, Sunfield Resouces can improve the capital appreciation ability, enhance the overseas business development scope, better implement the functions of the overseas development platform, and realize the relevant business strategic transformation and updating through constant integration.
At present, the equity transfer has been approved by the Foreign Investment Review Board, and the China National Coal Development Company has started to implement the hosting management of Sunfield Resources. The follow-up procedures of the equity transfer is about to be completed. (Sunfield Resource）