日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

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: 国产精品欧美久久久久天天影视 | 一级做a爱片久久毛片 | 成人a视频在线观看 | 五月婷婷视频在线观看 | 欧美成人精品一级 | 亚洲人在线 | 成人一级黄色片 | 国产对白在线播放 | 久久久福利 | 一级看片免费视频 | 国产精品88av| 久久婷婷av| 一级特黄妇女高潮 | 青春草在线免费观看 | 精品一区二区在线视频 | 黄视频免费看在线 | 天天爱综合 | 成人免费区一区二区三区 | 一区二区三区免费在线 | 91免费看黄| 夫绿帽中文字幕日本 | 丁香婷婷网 | 天堂在线视频 | 久久伊人99 | 欧美专区视频 | 日本亚洲一区二区三区 | 欧美亚洲综合网 | 毛片在哪里看 | 99免费在线观看 | 六月丁香婷婷综合 | 神马午夜不卡 | 成人亚洲精品 | 亚洲免费在线观看视频 | 一二三区在线 | 91精品在线看 | 圆产精品久久久久久久久久久 | 一区二区视频网站 | 人人草人人干 | 成人久久久久久久 | 国产精品久久一区二区三区 | 亚洲综合99 |