Coal partners
PA Wellington Todd Group subsidiary Todd Coal, Ltd, has taken an 18 per cent share in Greymouth Coal, Ltd, and Mitsui Matsushima has taken 4.5 per cent, Greymouth Coal’s chairman, Mr W. S. Patel, said yesterday.
With the new partners, State Coal Mines and Todd Coal own 51 per cent and the Japanese partners, Mitsui Mining Overseas Company, Ltd, Kenematsu-Gosho, Ltd, and Mitsui Matsushima together own 49 per cent, said Mr Patel.
He said that the joint venture partners were each able to contribute the necessary expertise required for such a development. Greymouth Coal was formed in 1982 to investigate the feasibility of developing the Greymouth coalfield to produce about 2 million tonnes of coal a year mainly for export to Japan. The target area is the Rapahoe block of coal 8 to 14km north of Greymouth. It contains about 200 million tonnes of good quality steaming coal and feasibility work will concentrate on an area that can be economically mined and provide the required tonnage for 25 to 30 years.
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Press, 30 August 1986, Page 23
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173Coal partners Press, 30 August 1986, Page 23
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