Yanzhou coal Mining Co is scanning the market for additional coal acquisitions in overseas markets...
As per information from our market sources, Xinhua reported that Yanzhou Coal Mining Co is scanning the market for additional coal acquisitions in overseas markets after becoming the new owner of Australia's Felix Resources Limited.Yanzhou had completed the legal footwork to take over Felix by the end of last year at a price of about USD 3 billion, and ranking it China's biggest takeover of an Australian firm.Annual production capacity of Felix is slated to exceed 20 million tonnes when it hits full capacity in the next three years.
Asian benchmark coal prices may rise 5.1 percent next quarter as the biggest importer Japan rebuilds ports and cities devastated by the March earthquake and tsunami, increasing demand for the fuel, Standard Chartered Plc said.