whc will ship 2mt in 2010, page-16

Glencore eyes options for $US2.5bn Prodeco coalmine

http://www.theaustralian.com.au/business/mining-energy/glencore-eyes-options-for-us25bn-prodeco-coalmine/story-e6frg9e6-1225832834088

GLENCORE, the Swiss commodities trader, is sounding out potential partners as it prepares to buy back the $US2.5 billion ($2.8bn) Prodeco coalmine owned by Xstrata.

Prodeco, which is in the Colombian highlands, has reserves of more than 250 million tonnes but will require a further $US1bn to develop fully.

Prodeco presently produces 14 Mtpa of export thermal coal predominantly for the European and United States power generation markets.

Not sure what has happened to REY, not sure what the hell is going on with all these transactions. Everyone buying coal mines for many hundreds of millions.

Your head comes to a point when it gives up.

The one saving grace for holders of REY is that management with recent Chilean assets sale have been in talks with the CHINESE.

I put my head on the block that he Chinese will make a play for Rey as some stage. whether soon or 12-24 months.

good luck all, i need more than luck.

I will go down fighting till end of March. events have worked against me for the umpteenth time.

regards