Business Services Industry
Asians buying stakes in Aussie coalmines.
Australasian Business Intelligence, July, 2007
Byline: Jamie Freed
Jul 02, 2007 (The Sydney Morning Herald - ABIX via COMTEX) -- Wilson HTM analyst, Andrew Pedler, says recent takeovers may have prompted international groups to move to secure coal supply. This follows news in the week ended 29 June 2007 that US-based AMCI and Hong Kong commodities trader, Noble Group, had each taken stakes in Australian-listed Gloucester Coal. The strategic purchases have continued, with China's CITIC Resources paying $A112.9 million to boost its interest in Macarthur Coal to 19.9 per cent and Japan's Soljitz taking a 10 per cent stake in Felix Resources' Moolarben project.
Publication Date: 3 July 2007
MACARTHUR COAL LIMITED - ASX MCC
FELIX RESOURCES LIMITED - ASX FLX
NOBLE GROUP LIMITED
AMERICAN...
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