Mitsui Acquires Coal Exploration Rights in Australia

Tokyo, Feb. 16 (Jiji Press)–Major Japanese trader Mitsui & Co. said Friday it has jointly acquired exploration rights for two Australian coal mines with a local mining company.

The Collingwood and Ownaview mines, both located in Queensland, are seen to have coal deposits of 113 million tons and 117 million tons, respectively, Mitsui said.

A Mitsui subsidiary, called Mitsui Coal Holdings Pty Ltd., and the local company, Anglo Coal Australia Pty Ltd., bought the rights from Canadian natural resources developer Sennen Resources Ltd. and Australian mining firm DJB Coal Pty Ltd.

Mitsui Coal Holdings owns 49 pct interest in the two coal mines, with the rest held by Anglo Coal.

The move is intended to help the Mitsui group secure more coal for supply to Asia for use in power generation, Mitsui said. Mitsui Coal Holdings and Anglo Coal already jointly own a coal mine near the Collingwood and Ownaview mines.END

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