www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

Yanzhou Coal acquires Aussie mining firm

Updated: 2011-12-23 09:39

By Du Juan (China Daily)

  Comments() Print Mail Large Medium  Small 分享按鈕 0

 Yanzhou Coal acquires Aussie mining firm

Workers at Yanzhou Coal Mining Co Ltd's Dongtan mine in Shandong province. Yanzhou Coal's move to acquire Gloucester Coal Ltd is crucial because it will help its Australian assets to list on the country's exchanges, says an industry insider. [Photo/China Daily]

The buy will help Chinese company in its quest for overseas expansion

BEIJING - China's Yanzhou Coal Mining Co Ltd announced on Thursday that it will acquire the Australian miner, Gloucester Coal Ltd, to increase its overseas expansion.

The deal is likely to create Australia's biggest coal miner, according to an industry insider, and initial indications were that it could be worth as much as $2 billion.

"The deal is significant for Yanzhou Coal Mining because it will help its Australian assets to be listed in the country, fulfilling its promise to the local government in 2009 when it bought Felix Resources, another Australian coal miner," said an industry insider who declined to be named.

Yanzhou Coal is required to float at least 30 percent of its business in Australia on the local exchange by the end of 2012, according to the terms of the 2009 purchase.

The insider said the company doesn't have many advantages in acquiring new mines in China compared with other larger coal companies, so its overseas strategy has become its main interest in recent years.

A separate source working at the Shandong-based Yanzhou Group, the parent of Yanzhou Coal, said it's becoming increasingly difficult for the company to obtain new mines in other provinces. That's because all local governments are eager to maintain control of their resources by forming local energy groups.

"Even in Shandong province, Yanzhou Group is facing fierce competition after the formation of Shandong Energy Group Co Ltd in March," said the insider. "So, the company has chosen to find new mines in the international market."

He said Yanzhou Coal is interested in a number of mines in Canada and that possible cooperation with Canadian business partners is under discussion. The company is also interested in mines in Australia.

According to Gloucester's annual report, the Australian company has total coal reserves of 276 million tons and other resources of 1.5 billion tons.

It also owns rail and port assets. However, its shares have dropped by more than 40 percent this year to A$7.03 ($7), becoming one of the worst-performing stocks among Australian companies. Currently, Gloucester has three mines in operation and another under development. The company's annual production capacity is estimated to be 6 million tons in 2012 and 10 million by 2015.

Australia has seen an increasing number of mergers and acquisitions in recent years. That's as emerging economies, especially China and India, have an increasing demand for commodities such as coals and other raw materials for their domestic steel industries, power generation and other energy sectors.

The insider said Yanzhou Coal Mining has more overseas experience than any other domestic coal miner and it is targeting a large number of coalmines.

"Peabody Energy Co of the US has made several recent investments in Australia, which has prompted Yanzhou's move," he said. "The two will probably become competitors in the Australian coal markets."

主站蜘蛛池模板: 国产亚洲精品久久精品6 | 亚洲欧美日本在线观看 | 国产超薄肉色丝袜足j | 久免费视频 | 国产成人精品aaaa视频一区 | 国产一级做a爰片在线 | 国产一区二区三区免费看 | 国产一区二区三区四区在线观看 | 久久天天躁综合夜夜黑人鲁色 | 亚欧美视频 | 一级a毛片免费 | 狠狠色丁香久久综合网 | 亚洲欧美中文日韩二区一区 | 中文字幕亚洲精品第一区 | 手机在线看片国产日韩生活片 | 久久精品爱国产免费久久 | 亚洲在线看片 | 国产精品一区二区资源 | 日本a级片免费看 | 国产a级精品特黄毛片 | 在线亚洲精品国产成人二区 | 一区二区不卡在线 | 国产成人在线看 | 五月激情丁香婷婷综合第九 | 亚洲精品亚洲人成毛片不卡 | 久久香蕉精品成人 | 天天看片天天爽 | 韩国午夜三级理论 | 久久99一区| 中国成人在线视频 | 精品无人区一区二区三区a 精品午夜国产在线观看不卡 | 亚洲 欧美 日韩 在线 中文字幕 | 国产成人mv 在线播放 | 亚洲欧洲视频在线 | 亚洲成人偷拍自拍 | 久久青草视频 | 国产亚洲一区二区三区在线观看 | 精品欧美小视频在线观看 | 亚洲第四页 | 日韩中文字幕网站 | 欧美日韩综合精品一区二区三区 |