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Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN


Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.

KEPCO signed a 400 million Australian dollar contract with Anglo American, a U.K. mining company, to buy the Bylong coal mine in New South Wales, it said Monday. The mine is at the exploration stage. KEPCO hopes to extract 7.5 million tons of soft coal a year for about 30 years from 2016.  

POSA, POSCO's Australian unit, has concluded a 50 million dollar contract with Anglo American to take over a 70 percent stake in the Sutton Forest mine 160 km south of Sydney, which has an estimated reserve of 115 million tons of coal. The mine will be jointly developed with Australian Cockatoo Coal, which holds the other 30 percent.

"Through the Australian partner, we will be able to learn knowhow on mine development and management and considerably reduce risks," a POSCO spokesman said.
Source: Chosun



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Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...


Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...


Thursday, 01 April 10
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STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...


Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...


Wednesday, 31 March 10
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