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Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (9)	5/31/2001 2:10:34 AM
From: craig crawford	Read Replies (1) \| Respond to of 1643

Coal is not a dirty word Glencore will soon be making the most of a global restructuring of the industry. ABACUS by Elizabeth Knight Commodities trading giant Glencore will be riding the wave of a change in the structure of the international coal industry when it comes to launching what will probably be the biggest IPO this year - the $3.5 billion plus float of its Australian and South African coal assets. "If investment bankers had tried to sell a coal float of this size to the market even five years ago they would have been placed in an asylum." The first is that producers are rationalising and those which are left are bigger and have better pricing power. Only three years ago there were about 15 world players of note. In 2001, after a wave of rationalisation that includes Billiton and BHP, the market is dominated by four that account for 75 per cent. Full story smh.com.au