Chinese giant increases stake in MetroCoal

CHINESE coal group DADI Engineering Development has lifted its shareholding in MetroCoal to 22.6% after purchasing a further 6.25 million shares in the Queensland coal explorer.
Chinese giant increases stake in MetroCoal Chinese giant increases stake in MetroCoal Chinese giant increases stake in MetroCoal Chinese giant increases stake in MetroCoal Chinese giant increases stake in MetroCoal

MetroCoal's Surat Basin coal projects.

Staff Reporter

DADI increased its shareholding in the explorer to 47.25 million shares after the latest off-market purchase from Matthews Capital.

MetroCoal said it welcomed DADI’s increased shareholding and support.

Previously DADI had a 19.6% stake in the company.

MetroCoal owns a number of coal exploration licences in the Surat coal region covering approximately 3500sq.km.

Its key projects include the Columboola joint venture project and the Bundi coal project, which are expected to commence longwall mining in 2016 and 2017, respectively.

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