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Centennial mine move.(Austral Coal Limited)(Brief Article)
Australasian Business Intelligence, April, 2005 by Trounson, Andrew
Apr 07, 2005 (The Australian - ABIX via COMTEX)
Australian mining company, Centennial Coal, has won control of takeover target, Austral Coal. Centennial gained 66.7 per cent of Austral on 7 April 2005. It plans to take control of the board and to take operational control of the Tahmoor mine in New South Wales. However, Swiss commodities trader Glencore is holding a 13 per cent stake and does not plan to accept the offer. It is thought that Glencore may want coal marketing rights, which are presently held by Hong Kong group, Noble Group. Centennial's share price rose by $A0.24 to close at $A5.01 on 7 April.
Publication Date: 8 April 2005
CENTENNIAL COAL COMPANY LIMITED -
ASX CEY:
AUSTRAL COAL LIMITED - ASX AUO:...
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