Felix looks to Indian coal demand

FELIX Resources is considering coal assets in Indonesia and India as the latter country embarks upon plans to double electricity production by 2017.
Felix looks to Indian coal demand Felix looks to Indian coal demand Felix looks to Indian coal demand Felix looks to Indian coal demand Felix looks to Indian coal demand

Felix Resources' Ashton project.

Blair Price

Felix managing director Brian Flannery told Bloomberg the company will look into coal assets in the two nations and is talking to large groups in India associated with plans to build new power stations.

Last week, the Australian Bureau of Agricultural and Resource Economics analysts forecasted India’s thermal coal imports to ramp-up to 80 million tonnes in 2014 compared to an estimated 34Mt last year, on the back of government plans to build nine 4000-megawatt power stations.

Indonesia is the world’s leading thermal coal exporter.

Felix shares recently rallied to close at $A7.05 on Friday following the Bloomberg report but have since traded 30c down to $6.75 this morning.

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