Marubeni, Sojitz to Invest in Australia Coal Project
Two Japanese trading houses, Marubeni Corp. and Sojitz Corp., will invest ¥24.8 billion ($3.3 million) in a coal mining project in Australia, Dow Jones reported. They will partner with Queensland Coal Mine Management Pty and American Metals & Coal International Inc. for their Lake Vermont project in Queensland, the companies said in a joint statement. Production at the mine will start in 2009 with annual output of up to 4 million metric tons.
(Content from Nov 2007 Coal Age)