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Citic Resources Holdings Ltd. (1205.HK) said Wednesday its stake in Australian coal miner Macarthur Coal Ltd. (MCC.AU) remains a long- term investment for the company, despite the Australian government’s proposed new tax on the mining sector.
“Australia’s proposed resources tax will have an impact on mining firms,” Chief Executive Sun Xinguo told reporters in Hong Kong ...

Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring a coal mine in Indonesia. The company, which presently imports small quantities of coal from Indonesia, is in the process of reducing its dependency on the Indian coal, which is high in ash content, a top company official said today. ...

Coal India Ltd is on the verge of closing a deal with US-based miner Peabody Energy that would give it a stake in four Australian coal mines along with other overseas assets.
According to the ‘The Age’ report recently, the Indian company has said that it was in the advanced stages of negotiations for the $1 ...

The Essar Group on Thursday said it has agreed to acquire a 64-million tonne (mt) coal mine from an unnamed private company in Indonesia as part of its efforts to secure raw material supplies for its proposed thermal power projects in India.
The Ruias-controlled Essar Group didn’t want to name the closely-held Indonesian company citing confidentiality ...

Coal India Ltd (CIL) plans to invest Rs 6,000 crore in foreign acquisitions this financial year and is currently evaluating 10 overseas proposals that include five proposals for equity infusion. The proposals cover mining assets in countries such as the US, Australia and Indonesia.
“In addition to our capex plan of Rs 3,800 crore for 2010-11, ...

Plans for a coal power plant in the Malaysian state of Sabah in northern Borneo have run into stiff opposition. Environmentalists say the coal plant could damage extensive coral reef systems, pollute water supplies, open rainforests to mining, and contribute to global climate change, undercutting Sabah’s image as a ‘green’ destination. The federal government contends ...