China Shenhua Energy, the mainland’s biggest coal producer, has agreed to pay US$261 million for a license to explore for coal in New South Wales state in Australia, Bloomberg reported. The license – which is only for exploration and not for mining – is being granted to Shenhua on the recommendation of an assessment panel, New South Wales Minister for Mineral Resources Ian Macdonald said. In winning the license, Shenhua beat out a number of competitors, including Anglo American’s Coal unit and Griffin Coal Mining. Shenhua said in April that it was seeking opportunities to buy overseas assets, including mines in Australia, Indonesia and Mongolia.
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