CHARTS: The coming critical minerals trade war is BRICS short of a load
"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."
Albertan metallurgical coal producer, Grande Cache Coal (TSX:GCE), was acquired by a Japanese and Chinese firms for about $1.0 billion.
The purchase, announced on Monday, represented a 112% premium over the 20-day volume weighted average trading price of the company’s common shares.
Shares of Grande Cache Coal shot up 66% on the news.
The new owners are Winsway Coking Coal Holdings Limited and Marubeni Corporation.
Winsway is a Hong Kong listed public company, which imports coking coal for the Chinese steel industry.
Marubeni is a large Japanese trading house involved in metals and mineral resources, transportation machinery, energy related commodities, food, textiles, materials, pulp and paper and chemicals.
Grande Cache Coal, based in Alberta, produces metallurgical coal. It holds leases covering over 22,000 hectares with an estimated 346 million tonnes of coal resources in the Smoky River Coalfield located in west-central Alberta.
Comments
Michael2011416
In order to use coal more rationally, efficiently and effectively, the coal need to be processed and crushed into different sizes by coal mining machine and coal crusher, 0 ~ 25 mm particle size for coal gas stove, 25 ~ 8 mm for steam locomotive, 25 ~ 6 mm for the industrial furnace, and coal power plant requires grain coal of 0 ~ 25mm.
Coal crusher, such as ball mill, high pressure Raymond mill, MTW trapezium mill, MTM trapezium mill, coarse powder mill and micro powder mill are ideal choices for power plants. The power plant can equipment different kinds coal mill to meet the required size. Find more ,please visit here http://www.quartz-crusher.com/ore-crusher/coal-crusher-and-coal-grinder.html Or http://www.quartz-crusher.com