#AdityaBirlaGroup on the hunt for more Australian #coal
The Aditya Birla Group has been active in overseas markets over the past few years and is aggressively looking for further acquisitions in Australia’s coal mining sector.
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They have recently expressed interest in bidding for a stake in New Hope Coal, a Queensland-based miner with an estimated 1 billion tonnes in coal reserves.
Indian companies have been seeking further coal assets overseas to fuel their power plants faced with ongoing fears of depleting supplies. According to the Central Electricity Authority, more than half the 89 thermal power stations in India had less than seven days’ supplies of coal as of November 27th.
Tuhin Mukherjee, Sector Head of Mineral Resource Development at Aditya Birla Group will be speaking on the importance of acquiring overseas resources at the Asia Mining Congress 2012 in Singapore. To find out which other Indian investors will be attending, download the brochure.
Source: http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/metals-mining/aditya-birla-group-scouts-for-australian-coal-mine-companies-for-raw-material/articleshow/11087661.cms
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Coal Industry would suggest the commodity isn’t going anywhere. Coal reports show if we have to live with it, we may as well reduce the impact of coal and CCS seems to be the best solution found to date. Cherry http://www.coalportal.com While for some an ideal world would see no reliance on coal statistics to produce electricity,