INTERNATIONAL COAL NEWS

News Wrap

IN THIS morning's News Wrap: AMCI in the hunt for Grosvenor, Moranbah North; Higher dividends cou...

Lou Caruana

AMCI in the hunt for Grosvenor, Moranbah North

AMCI, the private equity giant run by German billionaire Hans Mende, is part of a buyout bidding group and is among those that submitted a binding offer for Anglo American's Moranbah North and Grosvenor coal mines, according to the Australian Financial Review.

AMCI must be viewed as a fair chance to snap up the assets given it has earmarked funds for local acquisitions and Australia and south-east Asia chief Nicole Hollows has flagged the group's interest in purchases.

She did, however, late last year say that AMCI was actively canvassing the market for deals but noted there were fewer forced sales than some had expected.

Higher dividends could have saved billions in mining's greatest capital disaster

Sensible dividend policies would have gone some way toward averting the $US199 billion wasted by the world's biggest miners on failed capital expenditure at the height of the commodities boom, according to the Australian Financial Review.

The world's 40 largest mining companies by market capitalisation booked a collective $199 billion of impairments from 2010 to 2015, representing 31.9% of the $623 billion in capital expenditure deployed over that period, an analysis by PwC shows.

Palmer says he hasn't been summoned to court over Queensland Nickel

Embattled businessman Clive Palmer has flatly denied he has been served an order to appear in the Federal Court next week to answer questions about the collapse of the Queensland Nickel refinery, according to the Sydney Morning Herald.

Palmer is scheduled to front the court in Brisbane on Tuesday, along with nephew and fellow QN director Clive Mensink, after the court granted a request by liquidators FTI Consulting to question him.

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