INTERNATIONAL COAL NEWS

Banpu keeps waiting for FIRB approval

THAI energy company Banpu has resubmitted an application to the Foreign Investment Review Board t...

Blair Price

This article is 15 years old. Images might not display.

Banpu withdrew its FIRB application in late July because of the pending Australian federal election.

But Banpu chief financial officer told Dow Jones Newswires the company had submitted another FIRB application just before the August 21 election.

Banpu will face more delays getting FIRB approval as the outcome of the election remains unclear with three independents holding the balance of power in the lower house.

As of yesterday the Thai company received acceptances for its $6.20 per Centennial share which amounted to 37.33% of all Centennial shares.

Detailed in the minutes of Banpu’s shareholder meeting held last month, the Thai company revealed it spent a total of $380 million to gain the 19.9% stake in Centennial in the two months before its July 5 takeover offer.

Banpu aims to export at least 40 million tonnes per annum in the Asia-Pacific region by the end of 2015.

The company holds a total of $US2.6 billion in cash reserves and credit facility finance to fund the Centennial takeover.

Centennial shares closed up 1c to $6.03c yesterday.

TOPICS:

Expert-led Insights reports built on robust data, rigorous analysis and expert commentary covering mining Exploration, Future Fleets, Automation and Digitalisation, and ESG.

Expert-led Insights reports built on robust data, rigorous analysis and expert commentary covering mining Exploration, Future Fleets, Automation and Digitalisation, and ESG.

editions

ESG Index 2025: Benchmarking the Future of Sustainable Mining

The ESG Index provides an in-depth evaluation of the ESG performance of 60+ of the world’s largest mining companies. It assesses companies across 10 weighted indicators within 6 essential ESG pillars.

editions

Automation and Digitalisation Insights 2025

Discover how mining companies and investors are adopting, deploying and evaluating new technologies.

editions

Mining IQ Exploration Insights 2025

Gain exclusive insights into the world of exploration in a comprehensive review of the top trending technologies, intercepts, discoveries and more.

editions

Future Fleets Insights 2025

Mining IQ Future Fleets Insights 2025 looks at how companies are using alternative energy sources to cut greenhouse gas emmissions