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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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Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...


Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...


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WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...


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