World News | September 2011
Cockatoo Coal seeks bids for Queensland thermal project
Sydney-based Cockatoo Coal has put its Taabinga thermal coal project in Queensland up for sale in the latest sign that the deal flow in the coal sector is accelerating. The company has appointed advisory firm RFC Corporate Finance to handle the sale of the project, which has an estimated 252 million tonne of undeveloped coal resources.
Miners with Australian coal deposits are seeking to cash in on high asset-valuations and rising interest from overseas buyers, particularly emerging economies like China and India that need to ramp up coal imports.