Yanzhou Coal Mining Co, China's third-largest coal producer, is scanning the market for additional coal acquisitions in overseas markets after becoming the new owner of Australia's Felix Resources Ltd.

Analysts say that while the time is right to snap up foreign energy companies, some domestic coal firms may lack the drive to venture into overseas markets.

Coal reserves in Shandong, where Yanzhou is based, are not as abundant as those in Shanxi province or Inner Mongolia autonomous region, where most Chinese coal firms are based.