Coal, News & Features, Resource News
Sumitomo looks to boost coal stake
By The Australian · July 6, 2012 · 1:09 am · Leave a Comment
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By Yoree Koh
LOOKING to become a bigger player in the coal industry, Sumitomo Corp expects to snap up 50 per cent of an Australian mine deal worth $430 million this month.
If the Japanese trading house seals the deal, it will land its biggest stake in a coal mining project to date, demonstrating its growing appetite for the hot commodity as it boosts its annual output by a third.
