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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

Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...


Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
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Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide * Lack of European buying makes India indicator of value Reuters reported that, ...


Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...


Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
  WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...


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