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Taiwan’s CSC to invest in Australian coal mine
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Reportedly, Taiwan’s largest integrative steelmaker China Steel Corp. (CSC) is planning to invest totally AUD 102 million in MDL 162 coal mine in Australia, including 10% stake in the mine.
AUD 50 million out of the investment will be for 10% stake of the mine and AUD 52 million will be for new facilities and other capital expenditures.
With the investment, CSC will ship annually 600,000 tons of furnace coal for production.
Meanwhile, it’s known that CSC had paid US$95 million for a stake in Brazil's iron ore miner Namisa SA in 2009, which was its first foreign raw material acquisition.
News Date
2/21/2012 4:44:35 PM
reported by
Brian Lu
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