LGI Secures Additional Stake in Australia Thermal

Coal Mine

■ Increasing its stake from 5% to 15% in Ensham thermal coal mine in Australia
■ Securing an additional maximum of one million tons of thermal coal

LG International is set to bolster its coal business in Australia.

LGI will invest about USD 50 million in acquiring a 10% stake in Australia’s Ensham thermal coal mine, which has been owned by the Japanese electric power company J-Power. This will enable LGI to increase its stake in that mine from 5% to 15% and secure an additional annual maximum of one million tons of thermal coal.

LGI first joined the business of developing the Ensham thermal coal mine in the state of Queensland, Australia in 1983, leading it to advance into the business of developing natural resources in earnest. The Ensham thermal coal mine is known to have a reserve of about 200 million tons.

LGI is currently engaged in the development of five thermal coal mines in four countries: the Ensham coal mine in Australia, the MPP thermal coal mine in Indonesia, and the Wantugo bituminous coal mine in China.

An LGI official said, “LGI is currently handling about 10 million tons a year, and is No. 1 coal business operator of Korean trading companies. LGI’s goal is to become Asia’s largest coal trader with mine operation capabilities.”

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