The China-focused coal company reported that its net income increased nearly fourfold year on year to $US15.6 million for Q3, up from $3.9 million last year.

It was also an increase on the last quarter, up 103% from $7.7 million.

Production, revenue and profits were dramatically boosted in the quarter due to the acquisition of the Luozhou and Lashu mines in November.

The acquisitions added 34.2 million tons of reserves and, when fully expanded, 750,000t of annual production.

L&L’s mining production increased to 233,000t for the period from 66,000t in the prior year, while revenues for the same period were up 98%.

“This quarter’s strong earnings were bolstered by our two newly acquired mines, Luozhou and Lashu, ramping up their production ahead of schedule,” L&L chief financial officer Ian Robinson said in a statement.

“The two new mines have reached their approved capacities and with all our mines fully operational, we were able to surpass our record earnings and production numbers from last quarter.”

L&L vice president and director Clayton Fong summarized: “Last quarter, the five mines we currently own produced at an annual rate of 900,000 tons. Organically they are targeted to grow 100% between now and 2015.

“We also expect significant growth in our wholesale and washing operations in the next few years,” he added.

“That growth could increase even higher with a few additional acquisitions.

“We continue to look at opportunities in Guizhou province and have begun looking at even larger mines in Sanxi and Inner Mongolia.

“With our business running well, I am very pleased how well-positioned we are. The future is bright.”

L&L owns and operates five coal mines in the Yunnan and Guizhou provinces in the southern part of the People’s Republic of China.