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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (383)	6/29/2001 7:35:55 AM
From: craig crawford	Read Replies (1) of 1643

Thursday June 28, 1:01 am Eastern Time CONSOL scouts for Asia Pacific growth biz.yahoo.com By Diana Taylor BRISBANE, June 28 (Reuters) - United States coal miner CONSOL Energy Inc said on Thursday it was on the lookout for underground metallurgical coal mines and coal-bed methane assets in Australia and Asia, as part of a renewed push into the Asia Pacific market. Pittsburgh-based CONSOL, which had revenues of US$2.2 billion last financial year and is the number four U.S. coal company, said its move to Australia would allow it to claw back lost exports of metallurgical coal to the growing Asia region. ......................................................................................................................... Bruno said while CONSOL would not disclose coal price projections, he believed the export coal prices to Asian steelmakers would continue to rise. ``Prices had gotten down to the point when companies couldn't even cover the cost of replacement capital,'' he said. ``In order to encourage new supply, prices will have to improve.'' CONSOL Energy has 23 bituminous coal mining complexes in seven US states and two Canadian provinces and produces about 89 million cubic feet per day of coalbed methane gas.

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