Chinese firms want to buy coal assets overseas, but on the cheap
(Reuters) – Chinese companies are on the hunt to buy overseas coal mines as Beijing’s switch to cleaner fuels stokes demand for higher-quality coal produced in countries such as Australia, according to people familiar with the firms’ strategies.
A renewed appetite for acquisitions by the world’s biggest coal consumer will be a big boost for miners who are trying to dispose of assets worth billions of dollars to boost shareholder returns.
Read more at: http://uk.reuters.com/article/2013/12/01/uk-china-coal-idUKBRE9B00FV20131201
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