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Southland Colliery set to rise like a phoenix.(Yanzhou Coal Mining Company Ltd. )(Brief Article)
Australasian Business Intelligence, March, 2005
Mar 24, 2005 (Australian Mining - ABIX via COMTEX)
The Southland Colliery is expected to be operating at full capacity by the middle of 2006, following its purchase by Yanzhou Coal Mining. Located in the Hunter Valley in New South Wales, the mine was closed after a major fire in 2004. As a result, its parent firm, Gympie Gold, was forced into receivership. Yanzhou Coal Mining, China's biggest listed coal mining firm, paid $A31 million to buy Southland from Gympie Gold's receivers. It has indicated it will invest over $A100 million in order to restore Southland to full production.
Publication Date: March 2005
YANZHOU COAL MINING COMPANY:
GYMPIE GOLD LIMITED - ASX GYM
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