Sun, Jul 15, 2007 - Page 11 News List

Shenhua Energy eyes foreign coal mines

BLOOMBERG

China Shenhua Energy Co (神華能源), China's largest coal producer, is studying opportunities to buy and develop coal mines in several countries to increase output.

The company is examining prospects in Indonesia, Australia, Vietnam and Mongolia, Huang Bing (黃冰), general manager of the company's capital operations unit, said in Beijing yesterday.

"Chances lie in the existing mines in Indonesia and Australia, and the developments of new mines in Vietnam and Mongolia," Huang said at the East Asia Investment Forum 2007. "We're studying opportunities of overseas expansions in these countries."

Coal producers in China are increasing capacity to meet growing demand for the fuel from power companies. China burns coal to generate 78 percent of its electricity. The nation is the world's largest energy consumer, after the US.

Shenhua hasn't reached any agreements on overseas acquisitions, he said.

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