When will the reorganization of Yuncheng Coal Mine in Shanxi end?

For a large number of local small and medium-sized coal mines in Shanxi, it is "doomed" whether they will be merged. Because if they are merged, huge upfront investment and relatively low merger price will bring them huge losses; If it is not merged, the policy of shutting down all mechanized mining mines with an annual output of less than 900,000 tons before the end of 200 1 is absolutely insurmountable. For M&A enterprises, the main difficulty is that they can't afford it and the follow-up funds are insufficient. Nevertheless, this can not affect the radical pace of Shanxi's coal resources integration.

In the second half of 2008, since the second round of coal mine merger and reorganization in Shanxi Province, many small and medium-sized coal enterprises in Shanxi Province have felt some hidden pressure. Now, facing the accelerated pace of integration in Shanxi Province, this pressure is growing.

For a large number of local small and medium-sized coal mines in Shanxi, it is "doomed" whether they will be merged. Because if they are merged, huge upfront investment and relatively low merger price will bring them huge losses; If it is not merged, the policy of shutting down all mechanized mining mines with an annual output of less than 900,000 tons before the end of 200 1 is absolutely insurmountable. For M&A enterprises, the main difficulty is that they can't afford it and the follow-up funds are insufficient.

Nevertheless, this can not affect the radical pace of Shanxi's coal resources integration.

A coal boss with a negative attitude

In April this year, Zuoyun County, a big coal-producing county in Shanxi Province, tried to convene local small and medium-sized coal mine owners to hold a symposium on merger and reorganization of local coal mines, but in the end, because most of the mine owners did not actively cooperate, few people attended the meeting and aborted.

For mine owners, the low purchase price and the lack of ability to package and integrate other resources are two reasons for their lack of interest and even conflict.

According to the Measures for the Disposal of the Price of Mining Rights Related to the Merger and Reorganization of Coal Enterprises formulated by Shanxi Province, two compensation standards are implemented for the merged and reorganized coal mines, with the Measures for the Integrated and Paid Use of Coal Resources in Shanxi Province promulgated by the Shanxi Provincial Government on February 28, 2006 as the watershed.

First, if the merged and reorganized coal mine pays the price and directly transfers the mining right according to the standards stipulated in the Measures, the merged and reorganized enterprise shall return the price of the remaining resources (excluding the resources without the approved price) to it, and give economic compensation according to 50% of the original price standard, or discount the shares according to the capitalization degree of resources as the shares of the newly established enterprise after the merger and reorganization; Second, the merged and reorganized coal mines paid the price according to the regulations before the implementation of the Measures, and directly transferred the mining rights. The merged and reorganized enterprise shall return the price of the remaining resources (excluding the resources with unapproved prices) to it, and give economic compensation according to the standard of 65,438+000% of the original price, or convert the shares into shares according to the capitalization of resources as the shares of the newly established enterprise after the merger and reorganization.

According to this standard, most mine owners can't get more money than they invested in the early stage.

At the same time, according to the Implementation Opinions of Shanxi Provincial People's Government on Accelerating the Merger and Reorganization of Coal Enterprises, local backbone coal enterprises with a production scale of more than 3 million tons/year and at least 6.5438+0.2 million tons/year of mechanized mine mining can also be used as the main body of merger and reorganization. Other local backbone coal mining enterprises (mines) as the main body of merger, reorganization and integration, proposed by the Municipal People's government. In principle, it should be supported by mines with a production scale of 900,000 tons/year and above. After merger, reorganization and integration, the production scale of the enterprise should be no less than 3 million tons/year, and at least one mine should be no less than 6.5438+0.2 million tons/year. And such standards make a large number of local small and medium-sized coal mines can only "sit and wait for purchase".

Therefore, many local small and medium-sized coal miners in Shanxi are holding a waiting, wait-and-see or blunt attitude, and will never take the initiative to cater to them unless there is really no way to follow.

Coal boss's embarrassment

Boss Yang is a businessman in Wenzhou. He owns several coal mines in Jinzhong, Changzhi, Xinzhou, Datong and other places in Shanxi, with an annual output of 400,000 to 600,000 tons. At present, his high-quality power coal mine with an annual output of 450,000 tons in Changzhi has been included in the scope of integration, and the first phase of the mine has paid a resource price of 6,543,800 tons. In this resource integration, bidders bid less than 30 million yuan for their coal mines.

Boss Yang said that he has invested more than 80 million yuan in this coal mine. If operated according to the market, coal mines can be sold for at least 200 million yuan. At present, his coal mine has not resumed production acceptance. Boss Yang said frankly that in the face of today's situation, the government will let it go, or if it doesn't listen, it will turn around and leave, and will not invest any more money in coal mines.

Unlike Boss Yang, Gao Ping, a boss who didn't want to be named to the outside world, joined four shareholders to invest 50 million yuan to take over a coal mine last year. However, due to Shanxi's long-term suspension of production and rectification, coupled with mine construction and other reasons, it has not been able to produce normally. The boss said he wouldn't make money after taking over, and he kept losing money every day. Because he needs to repay a lot of loan interest, he needs to pay the underground "one stop and three stops" every month, which makes him miserable. Nowadays, in the storm of integration, his mine is not favored by the acquirer, and it is difficult for his own investment to integrate other resources, and he is in danger of being shut down and eliminated at any time. The boss said it was really at the end of its tether.

In fact, most coal mine owners in Shanxi have been involved in this industry since 2006.

In 2006, Shanxi implemented the first resource integration. On February 28th of that year, the Shanxi Provincial Government promulgated the Measures for the Integration and Paid Use of Coal Resources in Shanxi Province. On the one hand, encourage large and medium-sized enterprises to participate in the integration of coal resources and form and develop large enterprise groups; On the other hand, it is proposed to levy the price of mining rights on coal enterprises, and six charging standards have been formulated.

Since the beginning of this year, 80% coal bosses in Shanxi have chosen to resell their shares and quit other industries. The new coal boss not only bought at a high price, but also had to invest a lot of money to increase production capacity and improve mine construction in the face of Shanxi's increasing coal access threshold. However, in the following two years, the mining safety situation in Shanxi was grim, and the coal mines in the province stopped production for rectification, especially last year, most small and medium-sized coal mines in Shanxi were in the stage of suspension of production for rectification.

These enterprises are struggling in the process of continuous expansion, integration and closure. Today, it is not only difficult to see the return on investment, but also ushered in the second large-scale and deeper resource integration in Shanxi, which made the "new coal bosses" who run mines through bank loans or private loans feel unbearable weight in their lives.

The troubles of M&A enterprises

Compared with the imminent pressure of coal mine owners, the pressure of mergers and acquisitions comes more from the future.

According to the Implementation Opinions of Shanxi Provincial People's Government on Accelerating the Merger and Reorganization of Coal Mining Enterprises, the main bodies of merger and reorganization of coal mining enterprises are divided into three categories: first, state-owned key coal mining enterprises in the province, second, qualified and announced enterprises approved by the provincial people's government, and third, local backbone coal mining enterprises with a certain production scale. Under the premise of not affecting the merger and reorganization of large coal mining enterprises, with the declaration of the municipal government and the approval of the provincial government, it can merge adjacent small and medium-sized coal mines as the main body.

At present, the first-class M&A entities recognized by Shanxi Province include Tongmei Group, Shanxi Coking Coal Group, Yangquan Coal Group, Lu 'an Mining Group, Jincheng Anthracite Group and China Coal Pingshuo Company. At the same time, the State-owned Assets Supervision and Administration Commission of Shanxi Province also announced a number of *** 13 M&A entities, among which there are 7 other entities besides the above-mentioned 6 enterprises.

Previously, the difficulties of these M&A entities mainly came from the outside. On the one hand, the enthusiasm of mine owners is not high, and they are unwilling to take the initiative to decentralize, so it is difficult to reach an agreement on prices; On the other hand, some insiders revealed that in the process of promoting resource integration, it is best to integrate provincial coal mines, followed by city-level and county-level coal mines. Due to the complex ownership structure of some small coal mines, involving a wide range of interests, not only the interests of mine owners and investors, but also the interests of cities, counties, townships, villages and related departments, the entanglement of interests has caused considerable difficulties in promoting resource integration.

Nowadays, this difficulty is gradually disappearing in the face of persistent market downturn, suspension of production and rectification and M&A storm strongly promoted by Shanxi, but some factors from major M&A enterprises are beginning to become problems.

Shanxi Coal Resources Co., Ltd. is a provincial enterprise of the State-owned Assets Supervision and Administration Commission of Shanxi Province, and it is also one of the M&A subjects involved in this resource integration. In the past few years, the enterprise has controlled and acquired more than 30 coal mines in Shanxi. The annual single well production capacity of these coal mines is between 300,000-600,000 tons, but now none of these coal mines have been put into production. A staff member of the company who did not want to be named said that the follow-up investment was too big, and the company is reluctant at present.

According to the policy requirements, by the end of 20 10, the scale of coal enterprises after integration and reorganization should not be less than 3 million tons/year in principle, and the scale of mine production should not be less than 900,000 tons/year in principle, so as to realize all mechanized mining with fully mechanized mining as the mainstay.

He introduced that according to the minimum standards, the annual production capacity of a single well has increased to 900,000 tons. At present, if these merged mines want to meet this standard, it will cost about 65.438+0.5 billion yuan for each underground transformation. The problem for enterprises now is not that they can't afford to buy coal mines, but that they can't afford to build them. Other M&A entities also have this difficulty.

For this problem, the staff member revealed that he had tried to solve it by extensively absorbing bank loans or introducing private capital shares again, but in the end there was no conclusion.

Previously, the National Development and Reform Commission, in conjunction with seven national departments, released the Investigation Report on Merger and Reorganization of Coal Mining Enterprises after on-the-spot investigation, and put forward and analyzed some main problems existing in the merger and reorganization of coal mining enterprises in China at present. The report also suggested that the government should strengthen the use of economic, legal and necessary administrative means to reduce the burden of participating in the merger and reorganization of coal mining enterprises.

The pace of restructuring is accelerating.

Although various problems are constantly encountered, it cannot hinder the more drastic pace of Shanxi coal mine merger and reorganization. Some people say that the pace of Shanxi is simply running forward.

Since the integration of coal resources and the merger and reorganization of coal mines in Shanxi Province in 2003, the number of coal mines below the municipal level has decreased from 4,598 to 2,598 at the end of 2008. In September 2008, Shanxi provincial government issued a new round of coal mine integration documents, demanding the closure of all mines with an annual output of less than 300,000 tons. The goal is to control the number of coal mines in the whole province within 1500 by the end of 20 10. Subsequently, a series of promotion meetings will be held in cities with coal in the province.

At the coal work conference on March 25th this year, a new integration scheme was introduced again. According to the requirements of the Arrangement Opinions on Accelerating the Merger, Reorganization and Integration of Coal Enterprises, by the end of 20 10, the number of mines in the whole province will be controlled at 1000 (reduced by 500). After the integration and reorganization, the scale of coal enterprises shall not be less than 3 million tons/year in principle, and the scale of mine production shall not be less than 900,000 tons/year in principle, and all mechanized mining shall be realized.

On April 15, in order to speed up the pace of integration, the Shanxi Provincial Government issued the Notice on Further Accelerating the Merger, Reorganization and Integration of Coal Mining Enterprises, further demanding to intensify the merger, reorganization and integration.

The circular requires Shanxi province 1 1 cities to complete the approval of merger, reorganization and integration plan and the task of mine reduction this year. Among them, one batch was completed in the first half of the year and another batch was completed in the third quarter. At the same time, Shanxi also announced the number of mines allowed to be reserved before the end of next year: 50 in Taiyuan, 7 1 in Datong, 50 in Yangquan, 95 in Changzhi, 65 in Shuozhou, 63 in Xinzhou and 0/18 in Jinzhong. Reserves of state-owned key coal group company 133 mine.

This means that by the end of next year, the number of coal mines in Taiyuan will be reduced from the existing 130 to 50, that in Linfen will be reduced from the existing 392 to 127, and that in Datong will be reduced from the existing 270 to 7 1 ... Taiyuan aims to reduce the number of coal mines to 50 by the end of this year.

For Shanxi, at present, the average single well scale of various coal mines is only 360,000 tons, which is far lower than the average single well scale of more than 700,000 tons in Inner Mongolia. The output of key coal mines accounts for only 53. 14%, far below the international and domestic advanced level; The degree of mechanization and informatization in the whole industry is not high, and the degree of mechanization in local coal mines is only 29.78%.

Faced with this situation, Shanxi will undoubtedly intensify its efforts to promote the pace of merger, reorganization and integration of coal mining enterprises in the province.