BP increases coal interests
> NZPA-Reuter London ; British Petroleum has increased its interest in the j Australian coal industry 1 with the purchase of a 50 per cent stake in a huge low grade coal deposit in 1 Queensland, the “Financial J- Times” said. 1 Subject to the approval of L thi Australian Foreign Investment Review Board, BP Australia will buy Millmer- ■ ran Coal for an undisclosed ; price. Millmerran has a 50 per cent share in the deposit, ; estimated to hold 1600 M I tonnes, with prospects for : conversion to oil for blend- ; ing as feestock to be used in I steel mills or for export as power station fuel. The other half of the I deposit is owned by Amax, with 43.75 per cent, and Mitsui with 6.25 per cent.
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Press, 23 February 1980, Page 19
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130BP increases coal interests Press, 23 February 1980, Page 19
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