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China Steel secures Australian coking coal supply

February 22, 2012 - 03:44 GMT Location: Shanghai

KEYWORDS: Taiwan , China Steel , coking coal , Australia

China Steel will invest in an Australian coking coal mine owned by MCG Group to get a share of its future output.

Taiwan's biggest steelmaker will spend A$102 million ($109.2 million) and get 10% of the future output from the mine. This is equivalent to 600,000 tpy of coking coal after launch in 2016, a China Steel official said. About A$50 million will be used to acquire the share of output right at the MDL 162 site in the northern state of Queensland, while...

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