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Monday, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND


ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be dominated by China.

Felix Resources owns coal projects in New South Wales and Queensland.

Gavin Wendt, from broker Fat Prophets, says if the takeover is approved, it could be the first of many similar acquisitions by China.

"This is probably the tip of the iceberg," he says.

"There's going to be more takeovers, so if they allow this one to happen we could see a situation where most of Australia's independent coal producers disappear rather rapidly, and the Chinese will be in some position to perhaps start influencing coal pricing."
Source:
ABC Rural



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Recent News

Friday, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...


Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million * Expect to complete the deal in the fourth quarter of 2009 * Delta Dunia has appointed Barclays Ca ...


Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...


Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions * Expects one deal to be completed by the end of 2009 Reuters world's largest international ...


Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons. Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...


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