Announcement Due Thursday On Abbot Point Port Bidders - Report

Date : 11/30/2011 @ 6:03PM
Source : Dow Jones News
Stock : Peabody Energy Corp. (PC) (BTUUQ)
Quote : 0.383  0.0 (0.00%) @ 2:05AM

Announcement Due Thursday On Abbot Point Port Bidders - Report

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The government of Australia's Queensland state will announce Thursday its provisional approval for bidders to build six new terminals at the country's most northerly coal port, at Abbot Point south of Townsville, the Australian Financial Review newspaper reported.

The paper said that the coal expansion would boost Abbot Point's capacity to 385 million metric tons, from around 50 million metric tons presently.

Major companies chosen to build the terminals are Anglo American PLC (AAL.LN), Rio Tinto PLC (RIO), Vale S.A. (VALE), and a consortium of Peabody Energy Corp. (BTU), New Hope Corp. Ltd. (NHC.AU), and Carabella Resources Ltd. (CLR.AU), the paper reported.

Waratah Coal, a privately owned group controlled by Clive Palmer, and a group named MacMines Austasia would also be preferred bidders, the paper said.

 
Newspaper website: http://www.afr.com 
 
   -By Sydney bureau; 61-2-8272-4680; djnews.sydney@dowjones.com 
 



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