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Shanxi Blue Flame to Receive 41 Million Yuan in Railway Compensation

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Shanxi Blue Flame (SHE:000968) unit Blue Flame CBMwill received 40.7 million yuan in compensation from related-party Jinneng Equipment for assets impacted by a provincial key railway project.

The railway project overlies Blue Flame CBM's Zhengzhuang coalbed methane block, affecting eight gas wells, 12 pipelines and eight power lines, according to a Wednesday filing with the Shenzhen bourse.

The compensation covers well assets, removal costs and gas volume losses.

Jinneng Equipment holds a 64.23% stake in Shanxi Blue Flame's controlling shareholder Shanxi Gas Group.

Shares of the coal company closed 1% higher Wednesday.

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