Friday, January 8, 2010

WA's Griffin Coal draws interest from China, India

The administrators of Western Australia's Griffin Coal reported they have received interest in the failed miner's assets from Australia and overseas. Privately owned Griffin, which produces about 5 Mt of thermal coal a year mostly for domestic power generation, has debts of A$700 million and was placed into voluntary administration last week after it was unable to make a A$25 million payment to its bondholders.

A spokesman for administrator KordaMentha said the expressions of interest had come from state and private entities and that overseas interest had come from countries including India and China.

No comments: