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Wednesday, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE


The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on Wednesday citing a source.

The mine, located in the Bowen Basin of Queensland, has total estimated coal reserves of around 180 million tonne, it said.

The deal, if successful, will be routed through Adhunik Metaliks, which operates an integrated steel plant in Orissa, the source with direct knowledge of the developemnt said.

"We are currently working on several deals in Indonesia and Australia... Discussions are at a pre-mature stage and nothing has materialised so far," Nirmal Kumar Agarwal, a director at the group firm told the paper, without revealing details of the proposed transactiom. To read more
Reuters



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Recent News

Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal. “We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...


Saturday, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays. BDI INDEX ...


Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme. "With th ...


Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...


Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010 * Logistics woes hamper SAfrica exports, India imports India's steam coal imports ar ...


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