Shanxi Coal sues company at centre of Qingdao metal probe

Shanxi Coal International Energy Group Co Ltd is suing Dezheng Resources and subsidiary and affiliate companies for $177.5 million in missed payments and interest, after buying alumina, aluminium and copper cathode for the company.

The wholly-owned division of Shanxi Coal Import & Export Co said it is suing six parties. The company said it filed a lawsuit with the Shanxi Provincial High Court on June 25, stating that it is owed $120 million and 353 million yuan ($57.5 million) plus interest. Shanxi Coal said it cannot accurately say what the effect of the lawsuit will be on its results. Chinese authorities are investigating Decheng Mining, which is at the centre of the Qingdao probe into the fraudulent use of warehouse...

Published

Shivani Singh

June 27, 2014

11:22 GMT

Singapore