Geo Energy shops for more coal mines
It sees good value in the market and has a long-term view of Indonesian coal
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[SINGAPORE] With prices of thermal coal - and hence, the value of coal mines - at a five-year low, mainboard-listed Geo Energy Resources is on the prowl for potential acquisitions.
The low coal prices are not a concern for the coal mining group, its chief investment officer Mark Zhou said, because it takes a "long-term perspective" on coal in Indonesia.
He told The Business Times in an interview: "After two years of tapering of coal prices, we have seen non-genuine buyers being sieved out, and genuine sellers are in the market. You are getting good value."
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