Coal Mining
The New Wave of Foreign Investment to Produce Coal
In the coming weeks will be specified on new business in the sector and will continue to run the projects announced.
The goal of producing 124 million tons of coal in 2014 would become easier to be achieved, since in recent months have announced projects of foreign companies of all sizes.
Nobody wants to be out of business, which meet the good potential producer of Colombia with the increase in global demand and high mineral prices.
First were the three big players in the sector announced investments, which together are around 6,000 million dollars. On one side is Japan’s Itochu, which acquired 20 percent of Drummond Colombia for 1.524 million dollars, money that will be used to increase exports.
Then, BHP Billiton, Anglo American and Xstrata announced investment of 1,300 million dollars to increase production of Ceremony to 40 million tons in 2015.
The list of ‘heavyweights’ closes Glencoe, which recently made a share issue to fund its plans, including $ 2,600 million for Produce. Read the rest of this entry »
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