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Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010


Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky year in which Australia blocked a series of Chinese takeovers.

The purchase of Australia's Felix Resources by Yanzhou Coal Mining Co could open the door to more acquisitions, said Australia's resource minister and China's ambassador.

"Yanzhou's successful takeover marks a new start in cooperation between Australia and China," said China's ambassador to Australia, Zhang Junsai.

"China brings not only capabilities, jobs and opportunities, but also secure long-term market share," Zhang said.

The buyout was the biggest by a Chinese firm in Australian mining history and among the top 10 mergers and acquisition in Australia in 2009.

Bilateral and investment ties were hurt last year when Chinese companies were prevented from taking over Australian businesses, and by the Chinese detention of an executive from Australian mining firm Rio Tinto (RIO.AX) on commercial espionage charges. To read more Reuters



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Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...


Thursday, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...


Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...


Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...


Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...


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