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Friday, 11 September 09
L&T EYES AUSSIE COAL MINE


Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used for generating power.

According to media reports in India, L&T has shown interest in the mine at Queensland in northeastern Australia.

The mine has an estimated coal reserves of 250 million tonne (MT). Australia is known for its high quality coal assets. The deal will cost the Indian company $250-300 million .

The acquisition will help in case the company plans to bid for any ultra mega power project (UMPP) going forward.

L&T is also in talks with some mining firms in Indonesia for possible acquisition.

Early this year, GMR Infrastructure acquired Indonesian coal company PT Barasentosa Lestari to ensure coal supply for its proposed 1,500 MW power plant in the western coast. Last month, Jindal Steel and Power bought a thermal coal mine in South Africa.
Source: Commodity Online



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Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...


Wednesday, 23 September 09
TATA POWER TO COMMISSION 2 UNITS OF MUNDRA UMPP BY FEB 2012
Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...


Wednesday, 23 September 09
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The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market ...


Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...


Tuesday, 22 September 09
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