China Yanzhou Coal Australia output rises to 20 mln T 2011-official

Tue Nov 22, 2011

BEIJING Nov 22 (Reuters) - China's Yanzhou Coal Mining Company Limited will produce more than 20 million tonnes of coal from its Australia assets in 2011 after the company signed two M&A deals in Australia earlier this year, Zhang Minglin, vice general manager of parent Yankuang Group, said on Tuesday.

If realised, coal output from Australia this year for the company will rise by 67 percent from last year, as Yanzhou aggressively expands business in Australia.

That accounts for about 40 percent of the compay's total coal output last year, which is 49.4 million tonnes, according to Reuters calculation.

Yanzhou Coal has made four successful M&A deals in Australia and is still keen to acquire more Australian coal assets.

In September this year, Yanzhou Coal agreed to buy two coal companies from Australia's Wesfarmers Ltd for A$296.8 million ($288.5 million).

In August, Yanzhou Coal bought 100 percent equity interests in two Australian coal producers, Syntech Holdings Pty Ltd and Syntech Holdings II Pty Ltd, for A$202.5 million ($222.08 million) in cash.

In 2009, Yanzhou Coal bought Australia's Felix Resources Ltd for $2.9 billion, and in 2004 it bought Southland Coal Mine in Australia and renamed it as Austar Coal Mine Pty Ltd.

(sourced Reuters)

Yankuang Group targets 80Mt coal output this yr

Feb 26, 2011

Yankuang Group, the parent of Yanzhou Coal Mining Co., is targeting 80 million tonnes coal output in 2011, growing 30 percent from 2010, the Wall Street Journal reported, citing the company’s chairman.

The increase would mainly come from its Australian mines. In Dec 2009, Yankuang purchased Australia’s Felix Resource Ltd at the cost of A$3.54 billion.

The group expects its coal output to reach 150 million tonnes in 2015, increasing 1.5 times from 60 million tonnes in 2010, chairman Wang Xin was cited as said.

Coal produced by Yankuang had stood at 40 million tonnes in last years, and surged to 60 million tonnes in 2010, thanks to increased imports from Australia, said the chairman.
(sourced:en.sxcoal.com)

Australia Whitehaven bids due Wednesday, some suitors drop out -sources

Wed Feb 2, 2011 6:00am GMT
SYDNEY Feb 2 (Reuters) - Australia's Whitehaven Coal expects to receive non-binding offers from Chinese, Indian and Korean parties but several potential suitors have dropped out of the process as bidders raise concern about price, sources said on Wednesday.
Indicative bids for Whitehaven which put itself up for auction in October, were due on Wednesday, the sources said. Whitehaven is valued at about $3.5 billion at current share prices.
However, China's Yanzhou Coal Mining Co and major shareholder Alpha Natural Resources were not expected to lodge bids, two sources familiar with the matter said.
Whitehaven declined to comment.
Whitehaven has declined to name the parties it has been talking to but U.S. miner Peabody Energy and China's state-run Shenhua Group were expected to bid. There was interest from a number of Indian, Chinese and Korean bidders, one source said. (Reporting by Michael Smith; Editing by Ed Davies,sourced:Thomson Reuters)

Yanzhou Coal wins bid for coal mining rights in Inner Mongolia

Tuesday, Feb1, 2011 By China Knowledge

Yanzhou Coal Ordos Neng Hua Co Ltd, a wholly-owned subsidiary of Yanzhou Coal Mining Co Ltd, recently won the bid for the coal mining rights of the Zhuanlongwan coal mine in Dongsheng coal field in North China's Inner Mongolia Autonomous Region, sources reported.
The subsidiary has entered into a confirmation agreement with the region's Department of Land and Resources and will pay for 7.8 billion yuan for the mining rights.

The Zhuanlongwan coal mine, covering an area of 43.51 square kilometers, has total coal reserves of 548 million tonnes and is designed to produce 5 million tonnes of coal each year.