Coal buy-up on cards
NZPA-AAP Perth The slump in the Australian coal industry has sent Perth magnate, Mr Alan Bond, scurrying for his cheque book.
In its 1987 annual report, Mr Bond’s Bond Corp Holdings, Ltd, confirmed the group’s coal division would soon hit the acquisition trail. "The division regards the present as an appropriate time to move aggressively in expanding its operational base,” the report said.
“For this reason it has already examined a number of opportunities to acquire further colliery interests with the objective of achieving a balanced and substantially increased stature within the Australian coal industry.”
Bond Corp currently operates the Great Greta Collieries in New South Wales and Rhondda Collieries in Queensland. Last week, Bond's coal division chief general manager, Mr Peter Gibb, was quoted as saying a sAustsoo million investment could not be ruled out.
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Press, 7 October 1987, Page 46
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140Coal buy-up on cards Press, 7 October 1987, Page 46
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