Cockatoo Coal

SK Networks agrees to take 40% stake in Cockatoo Coal

Korea's SK Networks plans to inject $331 million of equity funding into Australian miner Cockatoo Coal.
<div style="text-align: left;">
Cockatoo's Baralaba open pit coal mine, which is under expansion </div>
<div style="text-align: left;"> Cockatoo's Baralaba open pit coal mine, which is under expansion </div>

Asian companies continue to make their presence felt in the scramble for the world’s natural resources. China’s acquisitiveness is closely recorded, but other countries within the region are also keen to secure supplies and make investment returns. Korea, with its large industrial base and urban population, has become a significant player, especially since Korea National Oil’s $2.8 billion purchase of UK-based Dana Petroleum in 2010.

The country’s conglomerates and state-owned enterprises are also prepared to take smaller, strategic interests in exploration companies.

On Monday, SK Networks agreed to subscribe for approximately 585.1 million shares in Australian coal miner Cockatoo Coal through a private placement....

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222