Saturday, 29 Oct 2011
Bloomberg quoted AMCI Capital LP a private equity investor in coal, iron ore and base metals said Australia coal assets are expensive making acquisitions challenging.
Mr Hans Mende president of Greenwich, Connecticut based AMCI said “We’re always looking but it’s difficult. Australian assets are overpriced.”
He said “Our business model is basically greenfield development. He added that I believe Aquila will get their funding for their share.”
AMCI owns stakes in Australian resources companies including Aquila Resources Ltd and Whitehaven Coal Ltd. AMCI held shares in Felix Resources Ltd which China Yanzhou Coal Mining Co Ltd bought in 2009 for AUD 3.5 billion.
AMCI isn’t interested in buying Australia New Hope Corp a coal producer with mines in Queensland State that last month said it’s starting a formal process for sale after receiving several offers.
AMCI is an equal partner with Aquila in the AUD 5.2 billion West Pilbara Iron Ore Project that includes a mine and port development to ship the steelmaking ingredient from Western Australia Pilbara region. Aquila is selling two projects and is seeking to raise USD 2 billion in debt to help pay for its share in the venture.
(Sourced from Bloomberg)
Bloomberg quoted AMCI Capital LP a private equity investor in coal, iron ore and base metals said Australia coal assets are expensive making acquisitions challenging.
Mr Hans Mende president of Greenwich, Connecticut based AMCI said “We’re always looking but it’s difficult. Australian assets are overpriced.”
He said “Our business model is basically greenfield development. He added that I believe Aquila will get their funding for their share.”
AMCI owns stakes in Australian resources companies including Aquila Resources Ltd and Whitehaven Coal Ltd. AMCI held shares in Felix Resources Ltd which China Yanzhou Coal Mining Co Ltd bought in 2009 for AUD 3.5 billion.
AMCI isn’t interested in buying Australia New Hope Corp a coal producer with mines in Queensland State that last month said it’s starting a formal process for sale after receiving several offers.
AMCI is an equal partner with Aquila in the AUD 5.2 billion West Pilbara Iron Ore Project that includes a mine and port development to ship the steelmaking ingredient from Western Australia Pilbara region. Aquila is selling two projects and is seeking to raise USD 2 billion in debt to help pay for its share in the venture.
(Sourced from Bloomberg)
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