China firm’s plan to buy Aussie coal mine causes concern

  • Business Premium
  • Thursday, 29 Sep 2011

SYDNEY: Western Australia’s Premier Colin Barnett has raised concerns about foreign ownership in his resource-rich state after it was revealed a Chinese firm intends to buy a crucial coal mine.

Australian conglomerate Wesfarmers has agreed to sell Premier Coal, which produces about 3.5 million tonnes of thermal coal each year, to Yancoal for A$296.8mil (US$293mil).

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