Strong Global Competitiveness of Openness and Win-win Cooperation
Internationalization is the remarkable business card and the unswerving development direction of Yankuang. The Group seized the strategic deployment of the national “One Belt One Road” and the Shandong provincial “Open Economy” policy, which constitutes the distinct background of Yankuang development in the new era in an opening up, cooperative and win-win way.
- Internationalization Development
Yankuang Group is the earliest Chinese coal enterprise going global which invested and constructed mines overseas in the 1990s. For over 10 years, Yankuang accumulatively acquired 5.3 billion tonnes coal resources in Australia; invested to construct potash project with annual production of 2.8 million tonnes in Canada; established joint venture and fully developed gold mineral products of three blocks in Venezuela. In May 2017, Yankuang acquired 100% mining right of green land block which covers over 220 square kilometers and based on copper metal.
In order to strengthen cooperation in production, research and development, Yankuang Group has introduced an indirect coal liquefaction research and development team headed by Dr. Sun Qiwen, national "Thousands of People" team of experts headed by Dr. Bai Dingrong and a boiler ultra-low emission R & D team led by Academician Yue Guangxi. The Group established Science and Technology Commission headed by Academician Li Jinghai, Academician Zhang Suojiang and Academician Li Hongzhong. The Group also established a strategic cooperation relationship with a number of scientific research institutes such as Chinese Academy of Science and Tsinghua University to promote a batch of advanced international and domestic coal conversion projects.
Yankuang Group explored management model featuring independently-organized, self-managed, self-employed, self-financing and self-development. The Group selected 10 subsidiaries to carry out pilot reform of mixed ownership. Xin Fengguang Company has been listed in the new OTC, Shanghai Futures, Xi'an Science and Technology will be listed in two years. After Jintong Company implemented the reform, it doubled the profit for three consecutive years.
Yankuang Group adheres to the strategic cooperation to expand market channels and trade space, improves operational level and profitability. The Group has established a harmonious cooperation with many well-known enterprises, such as CRRC Corporation Limited, China Nonferrous Yanda Metals Technology, Delisi Company. Yancoal Australia will set up a HVO joint venture with Glencore Coal Co., Ltd. as Yanzhou Coal and Glencore switched from an opponent to a joint venture.