Heavy demand from Chinese buyers has stoked Australian producers’ determination to resume their expansionary drive as soon as possible.
Centennial Coal chief Bob Cameron recently noted that Chinese coal imports would reach 100 mt this year compared to just 30 mt in 2008, while declaring his own company would produce 8.5 mt this financial year from deposits of almost 1.3 bt at its four Lake Macquarie mines. Centennial made a net profit of A$71.2M in the 2008-09 financial year, up from A$64.3M the previous year....
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