On November 19th, Jin10 Data reported that Xinjiang Natural Gas announced that its holding subsidiary, Xinjiang Mingxin Oil and Gas Exploration and Development Co., Ltd., participated in the bidding for the exploration and mining rights of coal resources in the seventh exploration area of Santanghu mining area, Barkol Kazakh Autonomous County, Xinjiang, and won the bid for about RMB 3.523 billion. The transaction is subject to approval by the company’s shareholders’ meeting before it can be implemented. The exploration area covers 109.28 square kilometers, and the estimated coal resources within 1,000 meters is 2.093 billion tons. The auction results will not have any adverse effects on the company’s normal production and operation. This auction does not constitute a related party transaction or a major asset restructuring.
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