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Centennial Considers Banpu Takeover |
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Tuesday, 20 July 2010 20:26 |
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Banpu, Southeast Asia’s largest coal producer, is preparing to take over Australia’s Centennial Coal in a deal worth A$2 billion, one of the largest coal deals for a Thai company. With 11 coal mines in New South Wales, Centennial is the largest independent coal company in Australia, producing 15 million metric tons (mt) per year. It has a nearly 420 million mt in reserves. Banpu needs approval for the deal from Australia’s foreign investment review board, expected in one month, and from its shareholders.
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Raspadskaya Investigation Delayed; Putin Says Mine Will be Restored |
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Tuesday, 20 July 2010 20:26 |
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Itar-Tass reported the investigation into the Raspadskaya coal mine disaster in the Kemerovo Region may be prolonged by another two months. The location of the area where the explosion occurred remains flooded. The coal bed in question is at a depth of about 400 m. Rescue workers suspect it is there they may find the bodies of the 23 coal miners, who are listed as missing.
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Mongolia Coal Railway will Link with Russia |
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Tuesday, 20 July 2010 20:25 |
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Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the south, the latest move in the long delayed project that will help make the poor but mineral-rich nation less dependent on exporting to China, Business Week reported. The Tavan Tolgoi coking coal deposit in the south Gobi region, estimated to have more than 6 billion metric tons (mt) of coal has attracted interest from 10 international mining companies including China Shenhua Energy, a Russian consortium led by Gazprom and Australia’s BHP Billiton.
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Chinese Coal Imports Slowed Some in May |
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Tuesday, 20 July 2010 20:25 |
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Statistics from China General Administration of Customs show China imported 11 million metric tons (mt) of coal in May down by 19% month-on-month and marking the lowest monthly imports since the year. Statistics from the agency indicate imports in the first four months of the year all remained above 13 million mt. Imports of the first five months remained 114% year-on-year totaling at nearly 69 million mt—a volume even bigger than the combined first seven months in 2009.
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Anglo Sells Undeveloped Coal Assets in Australia |
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Tuesday, 20 July 2010 20:24 |
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Anglo American entered into a conditional agreement with a consortium, composed of Korea Electric Power Corp., POSCO and Cockatoo Coal Ltd., to sell its interests in five undeveloped coal assets in Australia for A$580 million ($500 million) in cash.
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