Czech Coal Extends Offer Date for CEZ’s Pocerady Power Plant

Energy group Czech Coal has extended its 10 billion crowns ($420 million) offer to buy the Pocerady coal-fired power plant from Czech utility CEZ, according to Reuters, giving more time for the deal to overcome state objections. Majority state-owned CEZ’s supervisory board will discuss the sale of the 1,000-megawatt plant to its rival after putting off a decision last month despite Czech Coal setting an end of April deadline for its offer terms.

CEZ is looking to sell Pocerady to reduce its coal-fired generating capacity and to focus on refurbished plants that emit lower emissions. It has an option to sell to Czech Coal in the future but the group, owned by Pavel Tykac, wants to buy now to begin modernization work.

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Anglo Completes Dartbrook Sale in Australia

Anglo American completed the sale of its 83.33% interest in the Dartbrook coal mine located in the Hunter Valley, New South Wales, Australia, to Australian Pacific Coal Ltd. following the announcement of the sale and purchase agreement in December 2015. Dartbrook consists of an underground thermal coal mine and associated processing infrastructure that has been on care and maintenance since 2006.

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Rumors Swirl Around Possible Chinese Mergers

The Shanghai Stock Exchange suspended the trading of shares for both China Shenhua and GD Power Development on Monday, June 4, according to the Xinhua News Agency. China Shenhua, the country’s largest coal miner, was informed by its majority shareholder, Shenhua Group, that the company will be involved in an “important event” that has not yet been disclosed, according to a company announcement. At the same time, GD Power received a notice from its parent company, China Guodian Corp., one of the country’s biggest coal-fired power generators, saying that it should suspend trading its shares.

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Development of the Byerwen Coal Mine in Australia Advances

Macmahon Holdings Ltd., a major Australian-based mining contractor, has executed a preparatory works agreement with Byerwen Coal Pty Ltd. for its new mine, located near Glenden in Queensland’s Bowen Basin, which was recently granted mining leases. Macmahon CEO Michael Finnegan said the grant of the mining leases and the execution of the preparatory works agreement were positive developments for both Byerwen and Macmahon. The two companies are now in the process of negotiating the final mining services contract for the Byerwen coal mine. The scope of work for this contract is expected to include open cut mining and bulk earthworks for an initial period of three years, with total material movement expected to be in the order of 50 million bank cubic meters per year.

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Pakistan Inaugurates First CPEC Power Plant

The first major power plant under the China-Pakistan Economic Corridor (CPEC) has started to generate electricity for Pakistani people and will meet power demand for 10 million locals, according to People’s Daily. The first unit of the Sahiwal coal-fired power plant was inaugurated on May 25. The unit will generate 660-megawatts (MW) of electricity for Pakistan’s national grid and will help relieve an energy shortage in the country. The second unit is expected to start at the end of June.

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