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Japanese buy into Boggabri coal mine

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Japanese power company Chugoku Electric Power has bought a large stake in the Boggabri coal mine.

Boggabri owners Idemitsu Australia has signed a sale and purchase agreement with Chugoku to supply thermal coal from the mine on a long term basis, which includes Chugoku gaining a 10% stake in the operation.

"Given demand for coal has been increasing in Asia, including in Japan where new coal power plants are being constructed, the mine will increase its production," Idemitsu said in a company statement.

It went on to state its intention to "improve coal quality using the CHPP and increase production of PCI coal and semi-soft coking coal from 2015".

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