Golden Energy focuses on acquisitions, cost optimisation amid low coal prices

Singapore

COAL prices plunged to a record low in May this year as the demand for renewable energy rose, and have yet to fully recover. At current levels, miners can only just about cover their costs. But coal miner and trader Golden Energy and Resources (Gear) is hoping to take the opportunity of the low coal price environment to acquire more assets while also looking to optimise costs.

Mark Zhou, head of investments at Gear, told The Business Times that volatile markets present opportunities for the company to "move in to make acquisitions".