ACON Investments (ACON) have increased its stake in an Australian company with a history of investing in the coal industry.
ACON owns the Australian Coal Council (ACCC), which is the world’s largest coal miner, with a portfolio of assets worth $9bn.
ACCC currently holds a 25.6% stake in the Australian Mining Corporation, which is part of the Australian National Petroleum Corporation (ANPC).
The ANPC owns coal mines in Queensland, Victoria and South Australia.
ACAC’s mining operations include the former Queensland and Western Australia mines and mines in the Pilbara region.
It owns and operates the coal-fired power stations, the largest of which are at Maroochydore in Queensland.
The company is also a major owner of the Queensland Power Station (QPS), which serves as a major contributor to the state’s electricity grid.
ACIC Resources, the company’s wholly owned subsidiary, is an Australian oil and gas company, and owns a number of other oil and natural gas fields.
ACOC Resources, a wholly owned Queensland company, is also an Australian producer of coal and has a long-term agreement with the state to supply coal for the QPS.
In its 2014 annual report, ACOC listed its coal assets in the QP as “approximately $1.8 billion”.
ACOC was acquired by Australia’s biggest miner, Australian Resources Group (ARG), for $2.1 billion in July 2013.
The deal valued the coal assets at $3.5 billion.
The ANC owns coal deposits in Queensland’s Galilee Basin and also has a major role in the state.
The mining industry in Queensland is heavily reliant on coal, which has been mined for more than 50 years.
ACLC Resources owns coal reserves in South Australia, Queensland, Western Australia and Victoria.
The QPS and QFPs coal fields are jointly owned by the Australian Resources Corporation (ARC).
Both are owned by ARG.
ARG owns a large portfolio of coal assets, including the Maroochy Dunes mine, the world famous Galilee field in Western Australia, and the Carmichael coal mine in Queensland in South-East Australia.
The Queensland Resources Council owns a major coal deposit in the South-West.
ARIC Resources owns a coal deposit of $2 billion at the Maitland coal deposit.
ACOM Resources owns and manages the world-renowned Galilee Gold and the Great Australian Desert coal deposits.
The Maroochu and Great Australian deserts are among the world most-frequented coal deposits, and Queensland’s mining industry is heavily dependent on the mine for its livelihood.
The world’s second largest coal reserves are at Mount Polley in Queensland and the South Australian desert.
The South Australian Government has invested $1 billion to develop and operate a coal export terminal to export the Queensland coal to Europe.
The terminal will export some 6.5 million tonnes of coal annually to Germany.
The state is also planning to develop a coal processing plant in the Galilee basin, which will produce coal for export.
In 2018, the Queensland Government’s $3 billion Northern Gateway Pipeline (NGP) was built to export some of Australia’s largest existing coal reserves to Europe via the Northern Gateway project.
The NGP is also the largest pipeline of its kind in the world, and has an estimated capacity of more than 40 billion tonnes of liquefied natural gas.