1.5 billion coal project, page-10

The Sydney Morning Herald 6 september 08. Chinese coal diggers break new ground Yester day Chinas Xinwen mining agreed to buy Link Energy's Teresa exploration permits in the Bowen Basin for $1.5 billion,subject to due diligence and regulatory approvals. Link has not proven a resource at Teresa but it expected to announce more than 500 million tonnes in November. About a third of the coal is semi- soft to medium - hard coking coal;the remaining two thirds is export quality thermal coal.The Chinese buyer was concerned the coking coal price was going to up and the wanted to have their foot on the asset before the price went up to much.