Yanzhou Coal Mining Company Limited (BB+/Stable) and parent Shandong Energy Group Co., Ltd will see a strong increase in their profit and cash flow generation in 2021 on high commodity prices, despite constrained coal production, which supports Yanzhou Coal’s ratings, says Fitch Ratings. Yanzhou Coal’s operating profit soared by 122% yoy to CNY19.2 billion in .
Coal Scam Case: All 22 accused denied bail, land in jail
Barapukuria Coal Mine. Photo: Star Our Correspondent, Dinajpur Our Correspondent, Dinajpur
A Dinajpur court yesterday rejected bail applications of 22 Barapukuria Coal Mining Company Limited (BCMCL) officials, including its six former managing directors, and sent them to jail in a case over the disappearance of 1.45 lakh tonnes of coal from the mine.
Special Judge Mahmudul Karim of the District and Sessions Judge s Court passed the order after the accused appeared before it seeking bail, said Court Inspector Israfil Hossain.
On July 24, 2018, Md Anisur Rahman, manager (admin) of BCMCL, filed the case with Parbatipur Police Station against 19 officials of the coal mine in Dinajpur. After investigation, the Anti-Corruption Commission pressed charges against 23 BCMCL officials, including seven MDs, over the coal scam.