Cambrian’s main coal interests include Western Canadian Coal and Coal International.

Last year the company sold its shares in King-Coal and Maple Coal to Coal International, leaving Cambrian with a 36.1% interest in Coal International.

“The revival in the steel industry, driven by economic growth in China and India, has significantly raised the demand for metallurgical coal,” the company said.

Chief executive John Byrne said following the sale of the Asia Energy holding, the group has retained a $US1 per tonne royalty over production from the Phulbari coal project in Bangladesh. He said with the sale and reinvestment of some of the proceeds, the market value of listed investments stands at £111.5 million as at June 26, 2006.

He said the group’s operating profit would continue to grow as Western Canadian Coal and Coal International increased their operating profits as ongoing developments were completed.

Byrne said Cambrian had recently made an application to list on the Australian Stock Exchange, which the directors anticipate will offer greater flexibility to shareholders, particularly those located in Australia and New Zealand wishing to trade their Cambrian securities.