From Forbes.com:
Asia American Coal (AACI) , the first foreign company to produce coal from a majority-owned underground mine in China, is not expecting the Chinese coal sector to open up completely to foreign investors, said the company’s CEO.
‘Foreign-controlled investment has had its day,’ Michael Cosgrove told a press conference to mark the launch of the company’s joint venture mine at Daning in northern Shanxi Province . He said that there are still many opportunities in the Chinese coal industry, but foreign investors need more than just capital. [Full Text]
