China's Yanzhou Coal Mining Company has got an official approval from the National Commission of Development and Reform onDecember 4, for its bid to take over 100 percent of the stake in Australian coal mining company Felix Resources. The deal involving 3.33 billion Australian dollars ($3 billion) in a contractual agreement reached by the two companies would be the largest of its kind between Chinese and Australian firms.

Currently, brand value of Yanzhou Company reached 25.3 billion yuan. The company was awarded prize of National Science & Technology Progress for its Keywords fully-mechanized caving technique, and obtained patents in China and Australia. Transfer earning of its 14 patented technologies amounted 326 million yuan. In 2008, the company transferred its two leg shield caving support to German DBT Company, the first mining technology exported to western countries from China.

(China IP News)