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Coal: is Aston Resources the next in line?
The appetite for Australian coal miners seems to be endless: rumours spread down under have that the next in line is Aston Resources, which could receive takeover bids from U.S. Peabody Energy and Switzerland’s Xstrata. Aston is about to unveil an initial public offer seeking to raise US$ 400 million, which has already attracted Singapore's Noble Group and Japan's Itochu as main investors.
The company bought the Maules Creek coal project from Rio Tinto in 2009, when the mining giant was desperately selling assets to reduce its debt. Since then, Aston is heavily investing on the project and will start output in 2012, ramping up until reach full production by 2015. The area has more than 350 million tonnes in proved and probable reserves, according to JORC standards.
Publicado em: 29/7/2010 12:25:00
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9/9/2010 19:35:14 
