Exhibit
10.89
Loan
Agreement
This
Agreement is entered into in Anyang City on 31 March 2010, by and
between:
Lender:
Anyang Jindu Coal Co., Ltd.
Borrower:
Henan Shuncheng Group Coal Coke Co., Ltd
The
Lender and Borrower hereby confirms that the outstanding balance of loan
provided by the Lender to the Borrower is RMB 40,278,386.49 (the “Loan”) as of
31 March 2010.
Parties
hereof agree that any loan provided by the Lender to the Borrower is free of any
interest.
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Article
3
|
Governing
Law and Dispute Settlement
|
This
Agreement is subject to laws and regulations of the People’s Republic of China.
In case there is any dispute arising from this Agreement, Parties hereof shall
settle it through friendly negotiation; if a settlement fails to be reached,
each party to this Agreement may submit the dispute to the competent court for a
decision.
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Article
4
|
Coming
into Effective
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This
Agreement shall come into effective upon execution by parties hereof. This
Agreement is executed in duplicate, one for each party.
This page
is only for signature:
Lender:
Anyang Jindu Coal Co., Ltd.
Legal
Representative/
Authorized
Representative: /s/ Yeung Kwok Hing
Borrower:
Henan Shuncheng Group Coal Coke Co., Ltd
(Company
seal)
Legal
Representative/
Authorized
Representative: /s/ Cheng Zhi Kwan