MARKETS

Banpu to broaden its Australian strategy

THAI energy giant Banpu is on the hunt for new Australian coal investments as its $A2 billion tak...

Blair Price
Banpu to broaden its Australian strategy

As of yesterday, Banpu had reached 61.56% of acceptances for its $6.20 per share takeover bid of Centennial, and this fully approved offer is running until October 5 unless further extended.

Banpu chief executive Chanin Vongkusolkit indicated during a visit to Sydney that more was on the cards.

“After about two years of studying Australia we see that it has good potential in coal and that should be a good fit to our strategy,” he told The Australian.

"Externally we are quite positive in coal demand in the future, both locally in Australia and internationally, led by Asian countries.

"Internally, we have low debt and we were looking for new investments."

Banpu Australia was established last year to invest in coal mining and power generation businesses.

The Thai company said this included exploration, obtaining concessions, mining contractor and power plant operations, as well as coal and power trading in Australia.

Banpu aims to export at least 40 million tonnes per annum in the Asia-Pacific region by the end of 2015.

The company holds a total of $US2.6 billion in cash reserves and credit facility finance to fund the Centennial takeover.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production