Kam sa ha mi da. doomdog ---------------------------------------------------------- "Anglo American was selling five underdeveloped mines, including Bylong. Kepco formed a consortium with Posco and Cockatoo Coal, an Australian mine developing company, to purchase the other four. The alliance proved to be adept in fighting off Chinese and Indian bids.
The consortium was successful in buying the other four mines - Sutton Forest, Ownaview, Collingwood and Taroon - with ownership stakes divided among the consortium members. The value of all five of Anglo Americans properties was $482 million.
Kepco will delegate management of Bylong to Cockatoo Coal for the initial development. After three years, Kepco will allow a 30 percent call option to Cockatoo. In return, Cockatoo, which is taking control of the Ownaview bituminous coal mine, would transfer a 51 percent stake at that time.
Beginning with its investment in Cockatoo Coal in 2007, Kepco has been on the hunt for bituminous coal sources by participating in the development of the Moolarben thermal coal mine and taking stakes in Indonesias Adaro Energy."
