Coal Merger in Australia

Coal Merger in Australia

Centennial Coal Company Limited and Austral Coal Limited today announced a merger agreement between the two companies. Once the merger is completed the combined output of the group will likely be close to 22 million metric tons of thermal and coking coal in 2006. More than 50% of the group's revenue is expected to be derived from coking coal exports in 2006. Both companies are currently running highly productive mines near Sydney, Australia.