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Coal India to buy Rio mines in the Hunter?

PostPosted: Fri Apr 05, 2013 4:22 pm
by HVPA_research
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THIS COULD BE INTERESTING !

http://www.dnaindia.com/money/1818699/report-coal-india-seeks-to-buy-rio-tinto-s-mines

QUOTE:
State-owned Coal India Ltd (CIL), the world’s largest coal miner, is eyeing Anglo-Australian mining giant Rio Tinto’s coal mines, particularly those in Australia, sources in the know told DNA.

Battered by falling global coal prices, rising input costs and strengthening of the Aussie dollar, Rio Tinto has put on the block some of its coal assets like Coal and Allied Industries in Australia’s New South Wales province and other mines in Queensland.

Begin forwarded message:

From: Steve Phillips
Date: 5 April 2013 10:41:09 GMT+11:00
To: "hcr-alliance@googlegroups.com" <hcr-alliance@googlegroups.com>
Subject: [HCRA] Coal India to buy Rio mines in the Hunter?

Hi folks,

A contact in India sent this story through: http://www.dnaindia.com/money/1818699/report-coal-india-seeks-to-buy-rio-tinto-s-mines
They are interested in any information that would suggest this is a bad investment for Coal India, if anyone has any. I told them about the Warkworth extension being under legal challenge.

Steve