INTERNATIONAL COAL NEWS

Brookfield keen on Dalrymple Bay expansion

BROOKFIELD Asset Management is keen to back the expansion of the Dalrymple Bay Coal Terminal in Q...

Blair Price

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Brookfield chief executive Bruce Flatt will reportedly tour the terminal this week.

He told the Australian newspaper there would be a lot of expansion and capacity growth for DBCT.

Following a $A1.8 billion recapitalisation effort, BBI this month reverted back to its Prime Infrastructure moniker, the name it traded under before July 2005.

As part of the recapitalisation, BBI made a $625 million share placement to Brookfield and issued $295 million of convertible notes to the Canadian company for the DBCT and PD Ports assets.

DBCT is one of the largest coal export terminals in the world and serves 10 northern Bowen Basin mines.

Last year, 83.9 million tonnes of coal were exported from DBCT and the neighbouring Hay Point Coal Terminal, which is wholly owned by BHP Billiton Mitsubishi Alliance.

DBCT’s current capacity is 85 million tonnes per annum.

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