The Posthumous Affairs of Coal Magnate Xing Libin: Three Richest Men Vie for Prime Assets (AI Translation)
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- The COP28 climate conference in Dubai, chaired by Sultan Al Jaber, saw the launch of a fund to compensate developing nations for climate damages. The event was historic as it marked the first time a decision was passed on the opening day of a Conference of the Parties.
- The conference attracted over 40,000 attendees and faced logistical challenges due to its size. China's presence was notable with increased participation from government representatives, state-owned and private enterprises, and NGOs.
- Key issues at COP28 included addressing fossil fuel dependency and reviewing progress towards the 1.5°C warming limit. Sultan Al Jaber's dual role as COP28 President and CEO of ADNOC raised concerns about potential conflicts of interest.
文｜财新周刊 唐爱琳
By Caixin Weekly's Tang Ailin
2022年7月22日晚，在位于山西吕梁孝义市的山西鹏飞集团有限公司（下称“鹏飞集团”）总裁郑鹏办公室内，山西潞宝集团焦化有限公司（下称“潞宝焦化”）的法务总监游海清和郑鹏反复商讨着引资付款细节。游海清向财新回忆，郑鹏当时提出，支付15亿元即可变更转让的30%股权，她坚持应支付完成30%股权的全额对价款34.29亿元。双方一时争执不下，潞宝焦化副总裁韩长明还曾把游海清叫出去嘱咐，“不要把事情搞砸了”。
On the evening of July 22, 2022, inside the office of Zheng Peng, President of Shanxi Pengfei Group Co., Ltd. (hereinafter referred to as "Pengfei Group") located in Xiaoyi City, Lvliang, Shanxi Province, You Haiqing, the legal director of Shanxi Lubao Coking Co., Ltd. (hereinafter referred to as "Lubao Coking"), was repeatedly discussing the details of investment payment with Zheng Peng. You Haiqing recalled to Caixin that Zheng Peng proposed at that time a payment of 1.5 billion yuan would be sufficient to change the transfer of 30% equity stake; however, she insisted that the full price for the 30% equity stake—3.429 billion yuan—should be paid. The two parties were at an impasse and Han Changming, vice president of Lubao Coking even pulled You Haiqing aside and cautioned her not to mess things up.
此次引资拉开了延续至今的山西晋柳能源有限公司（下称“晋柳能源”）股权争夺战序幕。晋柳能源下属9座煤矿，其中6座位于吕梁市柳林县，均为稀缺的优质主焦煤，批复产能810万吨/年，可采储量约3.2亿吨。山西一位煤炭市场分析师表示，柳林为全国罕见的主焦煤产区，其煤种品质在世界范围内都是最好的，煤化度较高、结焦性好，主要用于炼钢，近年价格持续高位震荡，具有良好的盈利能力。
This capital injection marked the beginning of an ongoing battle for control over Shanxi Jinliu Energy Limited Company (hereinafter referred to as "Jinliu Energy"). Jinliu Energy operates nine coal mines, six of which are located in Liulin County, Lvliang City, and contain scarce, high-quality prime coking coal. With approved production capacity of 8.1 million tons per year and estimated recoverable reserves of about 320 million tons, these mines hold significant value. A coal market analyst from Shanxi noted that Liulin is a rare prime coking coal area in the country; its coal quality ranks among the best in the world with high coking properties and is mainly used for steelmaking. In recent years, prices have remained high and volatile, ensuring strong profitability.
这些“黑金”原属富甲一方的山西联盛能源有限公司（下称“联盛能源”），其掌门人邢利斌曾持有柳林县一半以上的煤矿资源。2023年1月，邢利斌去世，身后的煤矿遗产仍炙手可热，引来三“首富”斗法。
This "black gold" once belonged to Shanxi Liansheng Energy Co., Ltd. (hereinafter referred to as "Liansheng Energy"), a company that was rich in resources. Its leader, Xing Libin, once held more than half of the coal mine resources in Liulin County. In January 2023, Xing Libin passed away, leaving behind a highly sought-after coal mining legacy that has sparked a battle among three "richest men."
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