Shares in Australian stock exchange-listed Blackgold International Holdings rose after the Chinese coal producer acquired the holder of a coal mine in Chongqing municipal province in China.

Blackgold’s shares were up two cents, or 13.33 per cent, at 17 cents at 1423 AEST on low trading volumes.

The company on Friday said it had completed its acquisition of Qijiang Changhong Coal Industry Co for about $A14.9 million.

The deal was first inked a month ago but was conditional on the target obtaining a new business licence from the Qijiang Industry and Commerce Administration Bureau, which has now been received.

Blackgold has commissioned independent geologists to undertake exploration and evaluation work at the mine to allow existing Chinese geological data to be converted into a resource estimate that complies with Australia’s mineral reporting code, JORC.

The company operates four coal mines in China and was incorporated as a public company in Australia in July last year.