Original article by Peter Ker
The Australian Financial Review – Page: 13 & 20 : 11-Dec-17
New Hope Coal CEO Shane Stephan says there is growing concern among Japanese coal buyers about Glencore’s growing dominance of the Australian coal industry. He adds that this is prompting coal buyers to look at alternative suppliers such as New Hope and Whitehaven Coal. Australia will account for about 55 per cent of Glencore’s global coal production of 124 million tonnes in 2017, and the company’s share of Australia’s coal market will rise if its deal to acquire 49 per cent of the Hunter Valley Operations mine from Yancoal is approved.
GLENCORE PLC, NEW HOPE COAL AUSTRALIA, NEW HOPE CORPORATION LIMITED – ASX NHC, WHITEHAVEN COAL LIMITED – ASX WHC, YANCOAL AUSTRALIA LIMITED – ASX YAL, RIO TINTO LIMITED – ASX RIO, MACH ENERGY, YANZHOU COAL MINING COMPANY LIMITED