Some thing to think about

Anglo Coal buys into Foxleigh coalmine

• TONY GRANT-TAYLOR
• THE COURIER-MAIL
• DECEMBER 25, 2007 11:00PM
• THE scramble for coal assets has seen another Queensland mine sell at a plum price, with Anglo Coal buying a majority interest in Foxleigh coalmine for more than $700 million.

They bought the mine in 2007 for $710m then had no haul road or train loadout. Had to cart to German Creek Wash plant and stockpile it there. We then used our loaders to load our Belly Dumpers to take it to the ROM hoppers so that it could be washed and Stockpiled and loaded out when they could from the German Creek wash plant onto the trains. The trip from Fox to German Creek wash plant was via Lake Lindsey Mine. The price of coal at that time was a lot less than now.

Since then they have built their own Wash plant, so no more stuffing around with the German Creek Wash plant. They have built a direct road to their own coal load out at the rail loop. They built a new load out of their own at the rail loop. They have opened up the Foxliegh Plains coal seams bigger and flatter than the old seams.

So work it out yourselves, what do you think it is really worth?