Linc Energy is an innovative energy company. The company's vision is to become a dominant player in the supply of more environmentally friendly power, diesel and jet fuel by bringing together, for the first time anywhere in the world, two proven production processes known as Underground Coal... More
Monday, Dec 22:45 PMReuters: Chinese companies looking to buy overseas coal assets
Monday, Dec 22:45 PM| 10 Comments
- Chinese companies are on the hunt to buy overseas coal mines as the country's switch to cleaner fuels stokes demand for higher-quality coal produced in countries such as Australia, Reuters reports.
- More acquisitions by the world's biggest coal consumer would be a big boost for miners who are trying to dispose of assets, such as Rio Tinto (RIO), which has put Australian and Mozambique coal operations up for sale; Peabody Energy (BTU), looking to sell part of its stake in Australia's Wilkie Creek mine; and Linc Energy (LNCYF, LNCGY), which is selling its New Emerald Coal business.
- But the Chinese will not be in a rush, as they see asset values coming under further pressure as coal prices remain depressed amid a supply glut that has already driven prices down about a third since 2011.
Thursday, Oct 37:56 AMRio Tinto confirms sale of shuttered Australian mine, eyes selling another
Thursday, Oct 37:56 AM| Comment!
- Rio Tinto (RIO) confirms it is selling the Blair Athol coal mine in Australia's Queensland state to Linc Energy (LNCGY.PK, LNCYF.PK) as it reduces its exposure to smaller assets amid a slump in commodity prices (earlier).
- Linc says it won't make an upfront payment to acquire the mine; Rio, which owned 71.2% of the mine, and minority partners will pay Linc an undisclosed sum to help it cover costs of rehabilitating the mine, which has been idled since November.
- Media reports in Australia say three companies have expressed interest in acquiring Rio's Clermont thermal coal mine in Queensland.
Wednesday, Oct 28:12 AMRio Tinto reportedly nears sale of Australian coal mine
Wednesday, Oct 28:12 AM| Comment!
- Rio Tinto (RIO) is close to selling its Blair Athol coal mine in Australia to Linc Energy (LNCGY.PK, LNCYF.PK), WSJ reports.
- Talks reportedly are at an advanced stage and a deal may be announced as soon as tomorrow; financial terms are not known.
- The mine in Queensland state’s Bowen Basin has been shuttered since November after prices for thermal coal slumped; RIO estimated there was at least 10M metric tons of coal left at the mine.
- RIO -0.3% premarket.
Wednesday, Sep 259:06 AMLinc Energy in shale exploration talks with U.S. company
Wednesday, Sep 259:06 AM| 1 Comment
- Linc Energy (LNCGY.PK, LNCYF.PK), seeking a shale exploration partner in central Australia, says it is in talks with two groups, including a U.S. oil services company, interested in helping to develop its prospects.
- Linc wants to move ahead with its five-well drilling program at the shale oil properties in South Australia’s Arckaringa Basin on the assumption that a prospective partner will step up; Linc said earlier this year that it had been contacted by several companies interested in funding the development.
- Chevron (CVX), ConocoPhillips (COP), BG Group (BRGYY.PK, BRGXF.PK) and Statoil (STO) are among global energy companies that have made shale investments so far in Australia.
Tuesday, Jun 258:11 AMAustralia's Linc Energy (LNCGY.PK) is in early-stage talks to acquire the Gregory Crinum coking coal complex in Queensland state jointly owned by BHP Billiton (BHP) and Mitsubishi, WSJ reports. The mine was shut last year, citing falling coal prices, high mining costs and a strong Australian dollar that combined to make it unprofitable. |Tuesday, Jun 258:11 AM| 2 Comments
Thursday, Mar 283:37 PM
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