Geo Energy shops for more coal mines

[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."